From a morphological analysis, Bitcoin may belong to the consolidation stage of the fourth wave, that is, it will adjust before the fifth wave of rise. If this is indeed the fourth wave, the next step could be a fifth wave up, above the previous high (e.g. 73,777.00). However, if the price breaks below a support line (such as the current wedge's lower trendline), it may indicate that the correction will continue to the downside.
Of course, the specific stage of the wave theory needs to be confirmed by combining charts and technical indicators over a longer period of time.
Based on the predictions of wave theory, assuming that Bitcoin is currently at the starting point of the fifth wave of rise, the possible target price levels are as follows
1. Conservative target (the fifth wave is 0.618 times the increase of the third wave):
98,383.79 USDT.
2. Neutral target (the fifth wave is 1 times the increase of the third wave):
113,616.02 USDT.
3. Radical target (the fifth wave is 1.618 times the increase of the third wave):
137,079.68 USDT.
These price levels are a reference for technical analysis, and actual conditions still need to be adjusted according to dynamic changes in the market.
