🔍 1. Elliott Wave Structure
The chart illustrates a classic 5-wave Elliott Wave cycle:
Wave (1): Initial impulsive move up.
Wave (2): Corrective pullback.
Wave (3): Strongest bullish wave – already completed.
Wave (4): Currently in progress – a corrective phase.
Wave (5): Forecasted to peak around June 30, 2025 with a major upward move.
📈 2. Fibonacci Levels
Target zones for Wave (5) using Fibonacci extensions:
0.5 → $118,613
0.618 → $128,403
0.786 → $142,283
Support zones below (retracement):
0.618 → $76,286
0.786 → $67,781
☁️ 3. Ichimoku Cloud
Price is above the Ichimoku cloud, indicating a bullish medium-term trend.
Historical bounces from the cloud base are highlighted (circled) – suggesting strong dynamic support.
📊 4. RSI (Relative Strength Index)
Current RSI: ~51 – neutral zone, neither overbought nor oversold.
Past bullish divergence noted, which supported the big Wave (3) rally.
📉 5. MACD (Moving Average Convergence Divergence)
MACD is in a correction phase.
Still above zero line, meaning no strong bearish momentum yet.
🗓️ 6. Forecast Timeline
Projected top for Wave (5): June 30, 2025
This could be an optimal take-profit window based on Elliott Wave theory.
💡 Summary
Current Price: ~$86,777
Forecast Target Range: $118k – $142k by mid-2025
Conditions to watch:
RSI trending back upward.
MACD avoiding bearish crossover.
Price staying above the Ichimoku cloud.
Strong Support Zone if it drops: $76k –
67K
The chart illustrates a classic 5-wave Elliott Wave cycle:
Wave (1): Initial impulsive move up.
Wave (2): Corrective pullback.
Wave (3): Strongest bullish wave – already completed.
Wave (4): Currently in progress – a corrective phase.
Wave (5): Forecasted to peak around June 30, 2025 with a major upward move.
📈 2. Fibonacci Levels
Target zones for Wave (5) using Fibonacci extensions:
0.5 → $118,613
0.618 → $128,403
0.786 → $142,283
Support zones below (retracement):
0.618 → $76,286
0.786 → $67,781
☁️ 3. Ichimoku Cloud
Price is above the Ichimoku cloud, indicating a bullish medium-term trend.
Historical bounces from the cloud base are highlighted (circled) – suggesting strong dynamic support.
📊 4. RSI (Relative Strength Index)
Current RSI: ~51 – neutral zone, neither overbought nor oversold.
Past bullish divergence noted, which supported the big Wave (3) rally.
📉 5. MACD (Moving Average Convergence Divergence)
MACD is in a correction phase.
Still above zero line, meaning no strong bearish momentum yet.
🗓️ 6. Forecast Timeline
Projected top for Wave (5): June 30, 2025
This could be an optimal take-profit window based on Elliott Wave theory.
💡 Summary
Current Price: ~$86,777
Forecast Target Range: $118k – $142k by mid-2025
Conditions to watch:
RSI trending back upward.
MACD avoiding bearish crossover.
Price staying above the Ichimoku cloud.
Strong Support Zone if it drops: $76k –
67K
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.