A Delphi Digital analyst posted on the X platform to analyze the current bullish and bearish structure of BTC.
A bullish scenario is one in which the current movement is viewed as an ABC pullback that needs to be effectively completed and broken above $103,500 to be confirmed.
The bearish scenario is that the current rally forms a lower high anywhere below the 103,500 dollar, which will trigger the next decline to complete the full 5-wave downtrend pulse before a larger sustained rally.
In addition, USDT's dominance is breaking out of a long-term downward trend, and its supply is contracting on a weekly basis, which is not the ideal backdrop typically seen before prices continue to rise.
Delphi Digital: BTC bullish needs to break through $103,500, stablecoin indicator shows poor upside background
2025-11-26 07:30:08
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