Bitcoin is approaching the final phase of its bullish cycle. The major impulse wave, as per Elliott Wave theory, is nearing completion. The key focus should be the long-term trendline stretching from 2017 to 2021. When Bitcoin reaches this trendline (set an alert in TradingView to stay updated), it’s a clear signal to sell and exit the market.
This trendline isn’t the only significant resistance to watch. The Fibonacci extension (1.618 level) aligns as a static resistance, providing a strong barrier alongside the dynamic resistance of the trendline. The Fibonacci target is precisely 122,069 USDT. While some may project Bitcoin reaching 200k or 300k in 2025, this is highly improbable due to Bitcoin's already substantial market cap, as shown in the chart.
After selling Bitcoin at the peak, anticipate a substantial market correction, likely a bear market spanning 2025–2026. According to Elliott Wave principles, wave (4) typically serves as a strong support and liquidity area for institutional players. Bitcoin’s wave (4) support lies around 49k, suggesting that a price range of 50k–65k could become a re-entry zone.
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