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.