Ash | 4 reasons why we’re still bullish on BTCHi traders! 👋 This is Ash, let’s dive straight into today’s analysis! 📊🚀
📌 Wave analysis and our near-term view on Bitcoin
We believe we are nearing the end of Wave 1 of Intermediate Wave (3) (in yellow). A dip could be on the horizon in the near future - potentially toward $60k.
~$60k = Strong Buy 🚛🚛🚛
📌 4 reasons why we’re still bullish on BTC (even at $100k)!
1. Elliott Wave Analysis
We believe we are only on Wave 1 of the 3rd Intermediate Wave. This time could be different~! 😅
2. Halving Cycle Analysis
Historically, the upward trend lasted about 1 year 4 months after each Halving event. Since the last Halving was on April 19, 2024, this timeframe points to ~ August 2025. So, we’re still about 8 months away from a correction! 😌
3. Institutional Buying and Government Recognition
Major institutions are buying, and many governments (including the incoming Trump administration) are beginning to embrace BTC as a form of reserve asset. Bullish! 📈
4. Hyman Minsky Model
All financial systems progress through stages of increasing leverage and speculation (aka, a bubble). But… we don’t think we are there yet. Institutions have only just started buying, with limited participation from retail (i.e., public). BTC has plenty more room to run! 🚀
With this said, always remember to DYOR and protect your capital.
(Note: DYOR = Do Your Own Research)
📌 Alternative “sub” Scenario: Highly Unlikely
The following scenario is highly unlikely, but “if” BCT is nearing the end of Wave (1) (in yellow), the ensuing correction (Wave (2)) could be quite severe - potentially to ~ $40k or even lower..
For those looking to buy at the current level: be aware that, despite a very low probability, a drop to $40k is possible. Please ask yourself whether you can stomach this fall before going long.
If you found this analysis helpful, don’t forget to hit that boost button and follow me! 🚀🙌
See you soon with more updates! 🔥
