Bitcoin began its upward movement on August 5, 2024, at a low of $49,000, reaching a high of $65,200 on August 25, 2024. This marks the first impulsive wave in the Elliott Wave structure. 🔼
Afterward, the market entered a corrective phase, reaching a low of $52,400 on September 6, 2024, signaling a brief pause in the bullish trend. 🛑
Now, the third wave has started, which is typically the strongest and longest wave in a bullish trend. It is expected to extend to a price range of $100,000 to $110,000. 📈
Within this deep wave, two additional sub-waves are forming, adding complexity to the movement. These could keep Bitcoin on its upward trajectory through the end of December 2024 or into the first week of January 2025. 🌀
Ultimately, the fifth wave is projected to end around $130,000, signaling the possible start of a new corrective phase. ⏳
Afterward, the market entered a corrective phase, reaching a low of $52,400 on September 6, 2024, signaling a brief pause in the bullish trend. 🛑
Now, the third wave has started, which is typically the strongest and longest wave in a bullish trend. It is expected to extend to a price range of $100,000 to $110,000. 📈
Within this deep wave, two additional sub-waves are forming, adding complexity to the movement. These could keep Bitcoin on its upward trajectory through the end of December 2024 or into the first week of January 2025. 🌀
Ultimately, the fifth wave is projected to end around $130,000, signaling the possible start of a new corrective phase. ⏳
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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.