Since rebounding in early January 2025, Bitcoin's price trend has stabilized, currently hovering around $98,000. Although there has been little fluctuation in the past 24 hours, the market's expectation of whether Bitcoin has completely exited the adjustment period and is entering a new bull market is becoming increasingly strong.
According to analysis, the key support area for Bitcoin is between $95,090 and $96,531, while breaking through the resistance level of $99,900 is an important step in confirming the bull market trend.
Elliott Wave Theory - The Path to Bitcoin's New Highs
Using the classic Elliott Wave Theory, it is inferred that Bitcoin may have completed a round of 5-wave patterns. This pattern is usually a key signal for the market to develop in the direction of the long-term trend.
The 5-wave pattern (impulsive wave) indicates that market sentiment has shifted from indecision to bullish. Although there have been some signs of adjustment previously, analysts believe that the overall trend of Bitcoin still leans towards bullish. If Bitcoin can break through and stabilize above the $99,900 mark, the foundation for a new bull market will be more solid, and investor confidence will increase accordingly.
However, market risks always exist. If Bitcoin faces significant selling pressure, its price may fall back to the secondary support level of $92,950, a decline of about 5.5% compared to the current price. This is especially noteworthy as short-term volatility may have a significant impact on market sentiment.
Current Market Performance and Future Outlook
There has been a slight increase of 0.21% in the last 24 hours, but trading volume has decreased by 17.25% to $30.03 billion. This decrease in trading volume may indicate increased market wait-and-see sentiment, as investors are cautious of potential pullback risks while waiting for a breakthrough at key resistance levels.
Nonetheless, Bitcoin has still risen 3.57% in the past week and, with an annual growth rate of 121.32%, has become one of the best-performing assets in the past year. According to Coincodex data, market sentiment for Bitcoin remains bullish, with its Fear and Greed Index at 73, indicating a state of 'almost extreme greed.'
If the current trend continues, Bitcoin may reach $132,775 in the first quarter of 2025 and climb to $172,192 by mid-year. As the market gradually turns optimistic, the coming months may become an important time window for investors.
The Code of the Bull Market
In this feast of digital assets, Bitcoin is undoubtedly the brightest star. From Elliott Wave Theory to market data analysis, all signals seem to indicate that 2025 could be a milestone year for Bitcoin. However, the market is unpredictable, and opportunities are fleeting.
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