$BTC

Hey Binance Fam!
Let's dive into some long-term Bitcoin analysis!
Where are we in the cycle?
We believe Bitcoin is nearing the end of its current bullish cycle. We're likely in the final stages of the Elliott Wave impulse.
When should we consider selling?
A key indicator is the long-term trendline from 2017. This trendline has held strong for years. We recommend setting an alert on TradingView when Bitcoin touches this line. This could be a signal to consider selling.
Another important level:
The 1.618 Fibonacci extension also aligns with this trendline, around 122,069 USDT. This is a significant resistance level.
What about those crazy predictions?
While some may predict prices of 200k or 300k, we believe those are unlikely. Bitcoin's market cap is already substantial.
What happens after the peak?
Expect a significant correction (bear market) in 2025-2026. Bitcoin's wave 4 consolidation area (around 49k - 65k) could offer support during this period.
Remember:
* This is a long-term analysis and not financial advice.
* Always do your own research and trade responsibly.
Let's keep learning and growing together, Binance Fam!
#Bitcoin #BitwiseBitcoinETF #ElliottWave #Trading #Binance #Crypto
Please note: This analysis is for informational purposes only and should not be considered investment advice.

Elliott Wave Theory, developed by Ralph Nelson Elliott, posits that financial markets move in predictable cycles, driven by investor psychology. These cycles are composed of five waves in the direction of the trend and three corrective waves.

The three main rules in Elliott Wave Theory are:
Wave 2 cannot retrace more than 100% of Wave 1.Wave 3 cannot be the shortest among Waves 1, 3, and 5.Wave 4 cannot overlap the price territory of Wave 1.
These rules help in accurately identifying and confirming the wave patterns in financial markets.
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Elliott Wave Theory categorizes waves into degrees, reflecting different time scales. From Grand Supercycle to Minuette, these degrees help analysts understand and predict market movements across various time frames, making the theory versatile.

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Corrective waves counteract the direction of the primary trend and are composed of three sub-waves, labeled A, B, and C. These corrections can take various forms, including zigzags, flats, and triangles, each with distinct characteristics and patterns

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Impulsive waves are the primary drivers of market trends and adhere to specific rules: Wave 2 cannot retrace more than 100% of Wave 1, Wave 3 cannot be the shortest of the three impulse waves, and Wave 4 cannot overlap Wave 1. These waves can also form in more complex structures like diagonal waves

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