BTCUSD Analysis dated 16 Apr 2025 (Weekly Chart: Medium Term)

Currently, it is on-process to form "Grand Cycle w1" but not yet confirmed in Monthly chart yet.

Please see Monthly chart analysis as per link below.
https://www.tradingview.com/chart/BTCUSD/6WornpRP-BTCUSD-Analysis-dated-16-Apr-2025-Monthly-Chart-Long-Term/

As observed, 5 motive major cycle waves has now formed and confirmed by MACD but at the moment waiting for 3 corrective major waves to confirmed in order to complete "Grand Cycle w1"

At the moment price has pulled back into CDC Action Zone and went below EMA 26, which already shown in yellowish colour bars for past 8 weeks. This is likely to form corrective major wA, as marked in chart.

Notice that
i) MACD histogram is losing downward momentum.
ii) ADX still above 20 line.
iii) Price still in CDC Action Zone (Yellowish colour bars), indicating pullback.

In conservative views, ending of corrective wA is near but no confirming that wA is ending at this price level yet.
Once MACD line cross back up signal line then it can safely said corrective major wA is confirmed.
Anyhow, potential reversal may occur during this time, which possibly be only be rebound but continuation of downward trend may still occur anytime.

If price did not pushed back up above the range USD 109,354 then it is still considered just rebound in Medium Term for now.

Grand Cycle w2 Action Plan
Option 1) Wait for Corrective Major A-B-C to form, wait for CDC Action Zone to inform Buy signal then enter Long Position.

Option 2) If price pushed back above USD 109,354 then proceed "Breakout Strategy" by putting buy stop order at USD 109,355 with appropriate stop-loss.

For zoom-in analysis, please see BTCUSD Analysis dated 16 Apr 2025 (Daily Chart), see comment below.