Bitcoin - 130,000 by the end of the year! (BUY NOW)
Updated
Bitcoin has been going sideways for more than 6 months, but this should end! On the chart, we can see a bullish flag, and the price action in recent days dramatically increased the probability of a bullish breakout! Even though I was bearish pretty much since May (72,000 USD) until now, this recent price action changed my mind to switch to a full bullish mod. I was right about the previous downtrends, but let's focus on recent data.
From the Elliott Wave perspective, we are starting another strong impulse wave (5). It looks like the sideways price action (wave (4)) is a very complex WXYXZ triple-three corrective pattern. On the chart, you can see the whole price action of this bullish cycle from 15476 USD. From a time perspective, it makes sense as the timeframe is pretty much the same as wave (2).
What is the target? We need to take the Fibonacci extension tool and look for the 0.382, 0.618, 1.000, 1.382 or 1.618. Waves (5) always measure from the begging on the uptrend to the end of wave (4). I estimated the target for around 130,000 USD. Also consider using LOG scale + linear scale together.
Bitcoin also reacted very positively to the decreasing interest rates at the FED's recent meeting on September 18. That is also something we need to consider. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
From the Elliott Wave perspective, we are starting another strong impulse wave (5). It looks like the sideways price action (wave (4)) is a very complex WXYXZ triple-three corrective pattern. On the chart, you can see the whole price action of this bullish cycle from 15476 USD. From a time perspective, it makes sense as the timeframe is pretty much the same as wave (2).
What is the target? We need to take the Fibonacci extension tool and look for the 0.382, 0.618, 1.000, 1.382 or 1.618. Waves (5) always measure from the begging on the uptrend to the end of wave (4). I estimated the target for around 130,000 USD. Also consider using LOG scale + linear scale together.
Bitcoin also reacted very positively to the decreasing interest rates at the FED's recent meeting on September 18. That is also something we need to consider. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
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On a lower time frame, we can see that this parallel channel is breaking out! This is, of course, also a very bullish sign.
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We can clearly see that the symmetrical triangle is breaking out, which is a very bullish sign indeed. In a bear market, it should break down, not up - that's a first sign of strength. The second we have completed the WXYXZ complex correction - consisting of many zigzags and smaller complex corrections. This can be confusing if you are not a specialist in the Elliott Wave theory, but I see it very clearly. We have been in range since March 2024, so pretty long time, and Bitcoin pretty much refused to go lower. Soon October, November, and December start, which are the golden months for Bitcoin (statistically).
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Ethereum is breaking out as well, the next target is top of the range!
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Also, we have an unfiled CME GAP on ETH1! Futures between 3k - 2.8k. This is also that something that the price want to test.
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What about Alt season? As long as the BTC.D chart is in an uptrend, it's not recommended to buy altcoins. Strong resistance is 60% (BTC.D).Trade active
A lot of people say that the bull flag is not confirmed. I agree, but I already got a lot of major confirmations to say that the bull flag will break out!Trade active
October, November, and December are golden months for Bitcoin (statistically). It's likely for Bitcoin to go up now.Trade active
130K is really the maximum, we will definitely not go to 200k or so. 100k is a strong psychological resistance, this is also an option.Trade active
Bitcoin started this week very bullish. The previous weekly candle is strong, this is very bullish!Trade active
Invalidation level is 52k
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🟠1-MONTH: 49 USD
🟣3-MONTH: 99 USD
🟢1-YEAR: 199 USD
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💡My Telegram
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