Navigating the Bitcoin Halving and Price Trajectory
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Greetings,
We've reached the culmination of our ongoing analysis, and it's time to dive into the eagerly anticipated final update.
As previously discussed, the anticipated pre-halving price correction suggests a potential retracement to the $31,000-$35,000 zone. This dip is expected to be met with substantial buying interest, propelling a swift recovery. Projecting forward, we anticipate the resurgence to culminate by November 2024, with Bitcoin's price resurging past the $69,000 mark.
Looking ahead, Bitcoin is poised to pursue the unachieved targets set by the third halving cycle. The technical pattern, characterized by a rounded bottom formation, indicates a bullish target of approximately $114,720—a staggering 526% increase from the pattern's inception.
Our primary forecast suggests the all-time high (ATH) could soar to around $300,000. Elliott Wave analysis corroborates this bullish sentiment, indicating that we're currently navigating through wave 3 of this cycle, which is expected to conclude within this market phase.
While these insights are drawn from meticulous research, the unpredictable nature of markets warrants caution; my conclusions are not infallible.
I extend my heartfelt thanks to everyone who has followed this thread from its inception. As we draw this discussion to a close, your thoughts, comments, and engagement remain invaluable.
Stay tuned for further updates, and thank you for your continued support.
We've reached the culmination of our ongoing analysis, and it's time to dive into the eagerly anticipated final update.
As previously discussed, the anticipated pre-halving price correction suggests a potential retracement to the $31,000-$35,000 zone. This dip is expected to be met with substantial buying interest, propelling a swift recovery. Projecting forward, we anticipate the resurgence to culminate by November 2024, with Bitcoin's price resurging past the $69,000 mark.
Looking ahead, Bitcoin is poised to pursue the unachieved targets set by the third halving cycle. The technical pattern, characterized by a rounded bottom formation, indicates a bullish target of approximately $114,720—a staggering 526% increase from the pattern's inception.
Our primary forecast suggests the all-time high (ATH) could soar to around $300,000. Elliott Wave analysis corroborates this bullish sentiment, indicating that we're currently navigating through wave 3 of this cycle, which is expected to conclude within this market phase.
While these insights are drawn from meticulous research, the unpredictable nature of markets warrants caution; my conclusions are not infallible.
I extend my heartfelt thanks to everyone who has followed this thread from its inception. As we draw this discussion to a close, your thoughts, comments, and engagement remain invaluable.
Stay tuned for further updates, and thank you for your continued support.
Kommentar
This presents a distinct representation of the entire Elliot waves cycle for your understanding.Trade ist aktiv
Hey, let's delve deeper into the Fourth Halving cycle.The rounded bottom formation is currently underway, and the achieved percentage surpasses 61.8%, well beyond the midpoint of the pattern. Within this significant rounded bottom, we've identified a rising channel with each leg comprising 5 sub-waves, and its correction featuring just 3 corrective waves. As previously mentioned, we anticipate a potential pre-halving downturn due to the approaching top trendline of the rising channel, potentially leading to abc corrective waves.
The attached chart provides a clear and detailed overview.
Share your thoughts on our current analysis, and keep the engagement going. Stay tuned for our upcoming analysis on another robust pattern we've uncovered for BTC.
Trade ist aktiv
We are currently progressing through sub wave 4 to 5, and we anticipate this phase to fall within the range of 40k to 51k before a significant correction occurs.Trade ist aktiv
Important support level is 40k, break down of this level will activate the real pre-halving dump. Target still remain 35k to 31k.Trade ist aktiv
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