In our previous update on December 25th, we projected BTC to push higher to complete wave V, followed by a bearish phase in March and April, with 121,500 identified as a potential peak target.
The 20W cycle extended a bit longer than anticipated, forming on January 13th. Despite this, everything remains on track, and we are now in wave (b) of V, with my updated peak target at 118,500.
Looking ahead, I expect the 40W cycle to form in May 2025. Until mid-March, the bullish trend should continue, after which bearishness is likely to set in, corresponding to the 40W cycle trough (wave B).
The 20W cycle extended a bit longer than anticipated, forming on January 13th. Despite this, everything remains on track, and we are now in wave (b) of V, with my updated peak target at 118,500.
Looking ahead, I expect the 40W cycle to form in May 2025. Until mid-March, the bullish trend should continue, after which bearishness is likely to set in, corresponding to the 40W cycle trough (wave B).
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.