Bitcoin - when new bull market?
Here are 2 possible scenario how the bull market can be started:
1. Negative scenario (white line)
This scenario considers the bear market continuation. In this case price has just finished the wave 4 of the bear market and now is forming wave 5. This scenario is likely because price stopped exactly below the wave's 1 bottom and the axiom of non-overlapping waves 4 and 1 has not been violated. Moreover Awesome Oscillator crossed the zero line only when Bitcoin pumped from 15k to 30k. This is the minimal requirement for the wave 4 finish. Target for wave 5 is the range between 8k and 112K in the middle of 2024. In this case bull run is going to begin in 2025.
2. Positive scenario (green line)
In this case technically Bitcoin is in the bull market early stage. Pump from 15k and 30k is the wave 1 and now the wave 2 is going to reach 22k and then rapidly pump to the ATH.
What are the targets for next bull run?
To define the targets we need bear market to be finished, but current estimation is showing 80k as a minimal target. The most realistic is just above 100k. Next bull run is not gonna be huge for Bitcoin, but new altcoins is going to skyrocket.
1. Negative scenario (white line)
This scenario considers the bear market continuation. In this case price has just finished the wave 4 of the bear market and now is forming wave 5. This scenario is likely because price stopped exactly below the wave's 1 bottom and the axiom of non-overlapping waves 4 and 1 has not been violated. Moreover Awesome Oscillator crossed the zero line only when Bitcoin pumped from 15k to 30k. This is the minimal requirement for the wave 4 finish. Target for wave 5 is the range between 8k and 112K in the middle of 2024. In this case bull run is going to begin in 2025.
2. Positive scenario (green line)
In this case technically Bitcoin is in the bull market early stage. Pump from 15k and 30k is the wave 1 and now the wave 2 is going to reach 22k and then rapidly pump to the ATH.
What are the targets for next bull run?
To define the targets we need bear market to be finished, but current estimation is showing 80k as a minimal target. The most realistic is just above 100k. Next bull run is not gonna be huge for Bitcoin, but new altcoins is going to skyrocket.
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