Yes, 500k for BTC sounds crazy. But hear me out...

Now, I know $500k sounds like pure hopium, but read this.

Bitcoin has got a history of defying the odds, with gains of +1500%, +10,000% to even +60,000% in the not so distant past!

See these green lines and orange zones? Those could be our pitstops on the way to half a million, according to this simple Fibonacci analysis .

Here's the important part: This is all about percentages, not the overwhelming dollar signs! Sure, $15k to $500k sounds like a lot (it is!), but compared to Bitcoin's past, it's not THAT crazy. Remember the jump from $150 to $20k ? That's an 11,000% increase! This chart suggests something similar percentage-wise.

So, what do YOU think? Is $500k Bitcoin a dream or a possibility? Let me know in the comments and share your thoughts!

Comment:

The recent sideways price action and lack of a breakout above $74k suggests 500k might not happen as soon as I initially hoped for.

Based on current technical analysis, I'm seeing indications of a possible Triangle pattern forming.
In Elliott Wave Theory, triangles appear in the fourth wave of a five-wave impulsive move, suggesting a potential final upwards move before a bigger correction unfolds.

However, the steepness of this potential wave (e) is concerning.
It's steeper than I'd prefer, which adds a layer of complexity to my analysis.

Comment:

It's like we got a Leading Diagonal wave i and just finished wave ii as price reversed exactly from the 61.8% retracement level.

In my opinion it's not worth it to keep a long position if price drops below 67.500$ and even less if it closes below 66.200$ which is the 78.6% retracement level.