Analyst Sees Bitcoin Fifth Wave Still In Play With Potential Drop Toward $52,000 Support Zone

Bitcoin is trading near $68,220 and has recently tested the $64,000–$64,400 region, while an Elliott Wave-based outlook suggests the broader fifth wave may still be unfolding. Analyst Tara highlights key support between $59,900 and $60,500, warning that a final downside move could extend toward $52,000 if the structure continues, although a reclaim of $64,000 and a break above $70,000 would strengthen the bullish case. The 4-hour RSI is nearing oversold territory, and traders are watching for a bullish divergence as a possible sign that the corrective phase is ending.