Not $130,000 but actually much higher, think more of a price number around $155,000 or even $180,000 - $200,000 if inflation gets out of control, the only part that needs adjustment is the date.
Bitcoin is not set to grow, Bitcoin is growing and has been growing long-term. This is something that I cannot argue with and something nobody can or wants to argue with, we all agree. Bitcoin is going up.
In 2025, we are not expecting such small targets as $100,000 and $130,000, these are fairly easy numbers and most likely the first major milestones to be hit once the bullish action intensifies around or after March 2025. The mistake would be to think that this type of level can be hit now, in October, November or even December 2024.
Bitcoin is still on the path to test Ma 200 as support and with the crash wick, there you have the levels that will activate the major bull-market.
For the upcoming bull-market, what should we expect?
The top will most likely be a blow-off top. This means that there won't be a long-term double-top as in 2021. Think more of December 2017. This is based on the law of alternation as known from the Elliot Wave principle and also based on past history. So this can make the next bull-market dynamics quite interesting.
Here are two scenarios to consider:
1) A blow off stop means one peak and then the start of the next bear-market. If the action starts early, this top can be reached within 5-6 months and thus the end of the bull-market for Bitcoin around April-May-June and then long-term bearish action. Possible but not likely.
2) A blow off top late in 2025. This is more likely since Bitcoin tends to peak, always, late in the bull-market year. This is to give time for the rest of the market to do its thing. Thinking of this, we would have plenty of time for the bullish wave to develop and this would require many, many, months of rising prices, think of a repeat of 2023.
Think of Bitcoin going full green and to new ATH late Q1 2025. Then a small correction, sideways for months and more higher prices. We can see 3-7 months of consolidation before the final bull-run. The final bull-run would produce a new All-Time High with a blow off top varying between 155,000$, conservative, and up to $180,000 - $208,000 (inflation/war scenario). This is more in tune with how Bitcoin behaved in the past.
LONG Bitcoin after the correction ends.
We continue to see lower highs and we are set to experience a lower low next.
See Ma 200 on this chart, Bitcoin can produce a strong wick below this level and this would be the long-term correction bottom. After this bottom, we grow again.
Patience is key!
Thanks again for your continued support.
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I'll meet on you the next chart.
This is Alan Santana.
Namaste.
