After a long absence, I am finally back to analyzing the market, namely the Bitcoin market. From the chart here, we can see the end of Elliott, namely stage 5 on the weekly time frame, which means what? That's right, we are at the end of the Bitcoin bull market.
Okay, I'll explain a little bit about the graph I made;
First, Bitcoin will reach its highest level of 109k-119k by the end of this year, and then slowly fall, but still remain in the 100k zone.
Secondly, Bitcoin is experiencing a fairly large drop to 60k-65k, why is this happening? because Bitcoin has a GAP on CME in the 80k-78k zone.
Thirdly, Bitcoin will experience a very big drop in March-April 2025, namely it will touch the price of 43k-45k, why is this happening? because Bitcoin is currently forming a pattern, namely the Head and Shoulders, with a low between 43k-48k.
What's next? Well, in my opinion, Bitcoin will reach 100k again in 2027 if;
1. Bitcoin support is strong in the 43k area.
2. There is no global monetary crisis.
If either of these happens, then Bitcoin will hit 10k again. How is that possible? Yes, we forgot something, namely the Bitcoin GAP on CME, which is in the 9.8k zone.
Maybe that's all I can say, and maybe I'll come back in a few months.
I'll just end it here and say thank you.
