๐ฅ๐ฅ๐ฅAfter a long hiatus, Iโve returned to share an in-depth analysis of the Bitcoin market. Current market dynamics indicate weโre nearing the culmination of Bitcoinโs bullish cycle, supported by the Elliott Wave Theory, where weโve reached the fifth and final stage on the weekly chart. Letโs dive into what this means for Bitcoinโs trajectory and its potential price movements in the coming months and years.
๐๐ก๐จ๐ซ๐ญ-๐๐๐ซ๐ฆ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค: ๐๐ก๐ ๐๐๐๐ค ๐๐๐๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ๐๐๐๐ค๐ฅ
As we approach the end of 2024, Bitcoin is expected to hit its all-time high, with a price range of $109kโ$119k. However, this peak will likely be followed by a gradual decline, with Bitcoin stabilizing around the $100k mark in the short term. A notable pullback to the $60kโ$65k range is anticipated due to a CME Bitcoin Futures Gap in the $80kโ$78k region. Gaps like these have historically acted as magnets for price corrections.
๐๐ก๐ ๐๐ข๐ ๐ ๐๐ซ ๐๐ข๐๐ญ๐ฎ๐ซ๐: ๐๐๐๐ซ๐ข๐ฌ๐ก ๐๐๐ญ๐ญ๐๐ซ๐ง๐ฌ ๐๐ก๐๐๐๐จ
Moving into March-April 2025, Bitcoin may face a significant drop, potentially falling to $43kโ$45k. This prediction aligns with the formation of a classic Head and Shoulders pattern, with its lower boundary hovering around the $43kโ$48k zone. If this level holds strong as support, Bitcoin could recover and revisit the $100k price level by 2027, contingent on favorable macroeconomic conditions.
๐๐ก๐๐ญ ๐๐ข๐๐ฌ ๐๐ก๐๐๐: ๐๐ซ๐ข๐ญ๐ข๐๐๐ฅ ๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐ญ๐จ ๐๐๐ญ๐๐ก๐ฅ๐๐
For Bitcoin to regain its six-figure status by 2027, two key factors are essential: (1) the $43k support zone must remain intact, and (2) global financial stability must persist. However, if these conditions falter, Bitcoin could revisit its 2020 lows, with a sharp drop to the $9.8k region, influenced by another CME Gap.
This analysis represents my interpretation of the marketโs current structure. If youโve found it insightful, consider supporting my work with a Binance donation to ID: 36103837. Thank you for your time, and I look forward to sharing more insights in the future.
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