BTCUSDT, ELLIOTT WAVE ANALYSIS This chart represents a technical analysis of Bitcoin based on the Elliott Wave Theory. It appears that the analyst has used this pattern to predict future price movements. Let's break it down:
1. Elliott Wave Pattern:
Waves (1) to (5) indicate a large upward movement, typically consisting of five main waves.
In this chart, each sub-wave (1, 2, 3, 4, 5) is nested within larger waves, confirming a bullish pattern.
Wave (3) is usually the longest and strongest wave, which is clearly visible here.
2. Trend Lines:
The two sloping yellow and white lines form an ascending channel.
The price moves within this channel, with the upper line representing resistance and the lower line acting as support.
3. Future Projection:
Wave (4) seems to be complete, and Wave (5) is forming, typically indicating a final upward move before a major correction.
According to this analysis, the price could reach the range of $140,000 to $160,000.
4. Analysis Validity:
If the price can sustainably remain above the midline (dashed line), this analysis will be stronger.
Breaking below the lower trend line would invalidate the analysis, potentially leading to a deeper correction.
✅ Conclusion:
This analysis points to a strong bullish trend that, if realized, could be highly profitable. However, as with any technical analysis, these predictions are not guaranteed, and investments should always be made with caution and risk management.
This is a personal analysis and not a recommendation to buy or sell!
