We’ve observed that Bitcoin 
BTC1! appears to be repeating a previous wave pattern. If it follows its historical price action yet again, here’s what we might expect:
2021 Comparison
Back in 2021, Bitcoin formed two large rounded wave structures where the second wave exceeded the first, forming two consecutive all-time highs followed by a huge drawdown. This year’s price action looks very similar to the beginning of the second 2021 waves. If it continues to unfold in the same way, we anticipate a new all-time high before the end of this year, followed by a notable pullback into early next year.
Key Support at $96,000
As long as BTC holds above $96,000, the bullish trend remains intact. This level has shown great demand and volume support, reinforcing its role as the floor for the short-term uptrend.
Upside Potential to $117,000
If buyers continue to support the market above $96,000, BTC could reach the $117,000 region, setting another all-time high. This expectation follows the earlier wave pattern seen earlier this year and completes a close parallel to the 2021 bull run.
Deeper Pullback Expected
After a potential new high, a larger correction is likely. Drawing on previous pullback price action, a 30% dip toward $82,000 could align with a higher-time-frame trendline and significant support area—mirroring the wave structure from 2021.
Final Thoughts
BTC1! appears to be repeating a previous wave pattern. If it follows its historical price action yet again, here’s what we might expect:2021 Comparison
Back in 2021, Bitcoin formed two large rounded wave structures where the second wave exceeded the first, forming two consecutive all-time highs followed by a huge drawdown. This year’s price action looks very similar to the beginning of the second 2021 waves. If it continues to unfold in the same way, we anticipate a new all-time high before the end of this year, followed by a notable pullback into early next year.
Key Support at $96,000
As long as BTC holds above $96,000, the bullish trend remains intact. This level has shown great demand and volume support, reinforcing its role as the floor for the short-term uptrend.
Upside Potential to $117,000
If buyers continue to support the market above $96,000, BTC could reach the $117,000 region, setting another all-time high. This expectation follows the earlier wave pattern seen earlier this year and completes a close parallel to the 2021 bull run.
Deeper Pullback Expected
After a potential new high, a larger correction is likely. Drawing on previous pullback price action, a 30% dip toward $82,000 could align with a higher-time-frame trendline and significant support area—mirroring the wave structure from 2021.
Final Thoughts
- BTC remains structurally bullish above $96,000
- A pullback to the $82,000 region could present a key buying opportunity if it occurs.
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.
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.