What stage of the bull market are we currently in? The fifth wave started after Bitcoin's second bottom on September 6.
The development of the fifth wave has two possibilities:
1. Conventional five-wave structure
If it is a conventional five-wave structure, then the movement and duration of the fifth wave will be quite similar to that of the third wave. The third wave started on September 12, 2023, and ended on March 14, 2024, lasting exactly six months. If this is the case, it is highly likely that the Bitcoin bull market will end in February or March next year, with a greater chance of ending in March.
2. Terminal diagonal triangle
If it is a terminal diagonal triangle, then the duration of the fifth wave will be noticeably longer than that of the third wave, and the bull market may not end until the second half of next year.
Currently, it seems that the fifth wave is more likely to be a conventional five-wave structure. We are now in the final upward wave of the third sub-wave of the fifth wave, with a target for the third sub-wave above 110,000.
