💣 Bitcoin's next impulse could send BTC to $100K in 30 days

🔸 Bitcoin price analysis and the $100K target

“The impulses that follow should be even more aggressive, and we are trading at 64k. Our next impulse could send us to 100k within 30 days, and we still have around 6 months left till EOY.” – Credible Crypto

Credible Crypto‘s forecast is based on the Elliott Waves theory, which is popular among technical analysts in trend analyses. The theory says that a bull market is made of five waves, of which three are “impulse” waves. Usually, the third wave is the most aggressive, making for higher gains in a shorter time frame.

With Bitcoin trading at $64,260, a rally to $100,000 would result in 55% gains, lower than expected. However, the “$100K” level marks an important psychological resistance and a target that many investors look forward to reaching. This could create selling pressure in this price zone, slowing down the third wave.

Interestingly, competing traders have already planned their exit strategy, eyeing the $130,000 level as an initial target. Others, like Alan Santana, believe in an uptrend continuation to $150,000 per BTC.

On the other hand, Bitcoin has shown signals of weakness from a fundamental perspective. For example, miners have been capitulating, selling at a higher pace after years of operating underwater. Therefore, these analysts’ projections will depend on positive developments and fundamental improvements for the leading cryptocurrency that faces strong competition.

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