An Elliott Wave Principle analysis suggests Bitcoin could reach $127,000 by the end of 2025, following a potential correction to $60,000-$75,000.
Happy New Year to our readers! We primarily use the Elliott Wave Principle (EWP) to forecast financial markets, specifically Bitcoin's potential future paths. While various methods exist for navigating the cryptocurrency world, we find the EWP to be the most reliable and accurate. Our previous analysis suggested that Bitcoin's recent all-time high of $104,028 might mark the completion of the grey W-iii wave.
A down week would have confirmed this, signifying a corrective phase, allowing for an anticipated bottom around $90,000 before a rally to $110,000, completing the green W-3. Subsequently, another down-up sequence should have culminated the green W-4 and W-5 sequences, ideally targeting $115,000.Fast forward to the present, Bitcoin peaked at $108,369, four days after our initial article. It then declined to $91,310 on December 30, rallied to $102,747 on January 7, and subsequently dropped to $89,153 today. This demonstrates that the grey W-iii wave completed at the recent all-time high, and the anticipated grey W-iv is currently underway. Our month-old forecast remains accurate. The current decline could potentially reach $85,500 - $86,500, representing an ideal extension for the orange W-c=W-a. However, given that both the orange and grey target zones have been reached, this depth is unnecessary at this stage. The decline from the ATH comprises three waves: orange W-a, -b, and -c, indicating a corrective pattern. Therefore, our expectation remains that once the grey W-iv completes, marked by a daily close above $102,282, the grey W-v within the green W-3 of the red W-v of the black W-3 should ideally target $114,500 - $120,500. This assumes the grey W-v extends from 0.5 to 0.618 times the length of the grey W-iii. Subsequently, this implies that we can revise the larger 3rd wave target upwards, with a conservative estimate currently around $127,000. However, we are not at that point yet and will continue to monitor and adjust accordingly as price data unfolds, enabling us to determine the wave top more precisely. Finally, once the black W-3 peaks, we anticipate a severe 4th wave correction (black W-4), similar to those observed in the summer of 2023 and 2021, both marked by 50-62% retracements of the preceding same-degree 3rd waves. This could potentially bring Bitcoin down to $60,000 - $75,000 before resuming its rally to $216,000 - $445,000 by the end of 2025.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.It is important to note that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.This website may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
BITCOIN Elliott WAVE PRINCIPLE CRYPTOCURRENCY FORECAST PRICE PREDICTION TECHNICAL ANALYSIS
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