Bitcoin's Price Rebound Hits Roadblock as $85,132 Decides Correction Course

Bitcoin's rebound attempt after hitting an all-time high of $87,354.33 has stalled at $85,131.78, making this level a critical pivot point for determining whether the correction starts or not.

The five-wave advance structure suggests that Bitcoin may have completed its rally at $87,354.33, but the momentum divergence and failed MACD confirmations raise concerns about the sustainability of the current price levels.

If $85,131.78 continues to cap rallies, it would strengthen the interpretation that the decline from $87,354 is a correction to the entire advance from June 57,737, rather than simply another pause inside wave five.

However, if Bitcoin breaks back above $85,131.78, it would reopen the possibility that wave five is still developing and could retest $87,354.33 or make another marginal high.