will BTC go above 100K after Halving?!
Updated
Many are optimistic about Bitcoin reaching the 150K-200K range, let's strip away emotions and look at this logically.
Wave Analysis:
Predictions:
After the completion of the major third wave, I expect a move into a fourth wave that will be significantly different in form and duration from the second wave, likely taking the form of a deep zigzag correction reaching the 50% and potentially the 61.8% Fibonacci levels, ranging from 52K to 45K. Unfortunately, this will leave many optimists stuck at the peak until the correction completes.
Long-term Outlook:
After completion of the fourth wave, discussions could shift to potential targets exceeding 100K.
Disclaimer:
This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.
Wave Analysis:
- Wave (1): Concluded around 31K, followed by a shallow flat correction that lasted approximately five to six months, not surpassing the 24K mark (38.2% Fibonacci level).
- Current Phase - Wave (3): extended, similar to the first one:
- Sub-wave (i): Ended around 49K.
- Sub-wave (ii): A shallow zigzag correction that concluded at the 38.2% Fibonacci level.
- Sub-wave (iii): Finished around 74K.
- Sub-wave (iv):Currently unfolding, expected to potentially touch the 50% Fibonacci level between 58K and 54K. However, I anticipate a quick rebound from a candle tail, forming a deep flat correction.
- Sub-wave (v): Anticipated to end between 80K and 86K, possibly extending to 90K, differing from the consensus view.
Predictions:
After the completion of the major third wave, I expect a move into a fourth wave that will be significantly different in form and duration from the second wave, likely taking the form of a deep zigzag correction reaching the 50% and potentially the 61.8% Fibonacci levels, ranging from 52K to 45K. Unfortunately, this will leave many optimists stuck at the peak until the correction completes.
Long-term Outlook:
After completion of the fourth wave, discussions could shift to potential targets exceeding 100K.
Disclaimer:
This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.
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keep you eyes on Btc Today, the daily candle must close above 63850 to be sure that the possibility of the uptrend overcomes the downtrend.closing above 64900 then we can confirm that the trend is reverse and we go all the way to our targets 79-85K
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