Many are optimistic about Bitcoin reaching the $150K-$200K range, let's strip away emotions and look at this logically.
Wave Analysis:
Predictions:
After the completion of the major third wave, I expect a move into a fourth wave that will be significantly different in form and duration from the second wave, likely taking the form of a deep zigzag correction reaching the 50% and potentially the 61.8% Fibonacci levels, ranging from 52K to $45K. Unfortunately, this will leave many optimists stuck at the peak until the correction completes.
Long-term Outlook:
After completion of the fourth wave, discussions could shift to potential targets exceeding $100K.
Disclaimer:
This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.
Wave Analysis:
- Wave (1): Concluded around 31K, followed by a shallow flat correction that lasted approximately five to six months, not surpassing the $24K mark (38.2% Fibonacci level).
- Current Phase - Wave (3): extended, similar to the first one:
- Sub-wave (i): Ended around $49K.
- Sub-wave (ii): A shallow zigzag correction that concluded at the 38.2% Fibonacci level.
- Sub-wave (iii): Finished around $74K.
- Sub-wave (iv): Currently unfolding, expected to potentially touch the 50% Fibonacci level between $58K and $54K. However, I anticipate a quick rebound from a candle tail, forming a deep flat correction.
- Sub-wave (v): Anticipated to end between $80K and $86K, possibly extending to $90K, differing from the consensus view.
Predictions:
After the completion of the major third wave, I expect a move into a fourth wave that will be significantly different in form and duration from the second wave, likely taking the form of a deep zigzag correction reaching the 50% and potentially the 61.8% Fibonacci levels, ranging from 52K to $45K. Unfortunately, this will leave many optimists stuck at the peak until the correction completes.
Long-term Outlook:
After completion of the fourth wave, discussions could shift to potential targets exceeding $100K.
Disclaimer:
This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.
