BITCOIN Mega Bull Run?!
📈 BTC/USDT Elliott Wave Analysis 📈
🚀 BTC appears to have completed a corrective ABCDE structure within a descending channel, and it has since broken out, establishing a new impulsive trend. This suggests a bullish outlook and an extended Wave 3 formation in progress.
🔍 Wave Analysis:
🔸 ABCDE Pattern Completion: The previous downtrend ended with a clear ABCDE pattern, potentially part of a larger complex correction like WXYXZ. This was followed by a breakout, marking the end of the corrective phase and the start of a new bullish impulse wave.
🔸 Wave 1 and Wave 2: After the breakout, BTC completed Wave 1 upwards, with Wave 2 retracing back to test the breakout level. This pullback aligned with the 0.5 Fibonacci level, creating a confluence zone and confirming strong support.
🔸 Wave 3: The current Wave 3 appears to be an extended wave, signaling a strong bullish trend. This extended wave often includes five smaller sub-waves within it, targeting higher Fibonacci extensions. Based on historical patterns, the initial target for Wave 3 aligns with the 2.618 Fibonacci extension, with a secondary, more ambitious target around 3.618 if the trend remains strong.
🎯 Target Levels:
📌 Blue Wave 3 Target 1: Around $97,645 – This is the first target within the smaller structure of the current extended wave.
📌 White Wave 3 Target 1: Around $102,731 – A significant level, representing a larger Wave 3 target.
📌 Wave 5 Target 1 and Target 2: Final targets for the overall wave structure at $112,903 and $119,420 respectively, which may be reached if the bullish momentum continues through to Wave 5.
📊 Conclusion:
💹 The extended Wave 3 suggests a strong bullish trend, with targets extending as high as $119,420 in Wave 5. Keep an eye on the volume and momentum 📈 as BTC progresses through these key levels.
⚠️Disclaimer:⚠️
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
🚀 BTC appears to have completed a corrective ABCDE structure within a descending channel, and it has since broken out, establishing a new impulsive trend. This suggests a bullish outlook and an extended Wave 3 formation in progress.
🔍 Wave Analysis:
🔸 ABCDE Pattern Completion: The previous downtrend ended with a clear ABCDE pattern, potentially part of a larger complex correction like WXYXZ. This was followed by a breakout, marking the end of the corrective phase and the start of a new bullish impulse wave.
🔸 Wave 1 and Wave 2: After the breakout, BTC completed Wave 1 upwards, with Wave 2 retracing back to test the breakout level. This pullback aligned with the 0.5 Fibonacci level, creating a confluence zone and confirming strong support.
🔸 Wave 3: The current Wave 3 appears to be an extended wave, signaling a strong bullish trend. This extended wave often includes five smaller sub-waves within it, targeting higher Fibonacci extensions. Based on historical patterns, the initial target for Wave 3 aligns with the 2.618 Fibonacci extension, with a secondary, more ambitious target around 3.618 if the trend remains strong.
🎯 Target Levels:
📌 Blue Wave 3 Target 1: Around $97,645 – This is the first target within the smaller structure of the current extended wave.
📌 White Wave 3 Target 1: Around $102,731 – A significant level, representing a larger Wave 3 target.
📌 Wave 5 Target 1 and Target 2: Final targets for the overall wave structure at $112,903 and $119,420 respectively, which may be reached if the bullish momentum continues through to Wave 5.
📊 Conclusion:
💹 The extended Wave 3 suggests a strong bullish trend, with targets extending as high as $119,420 in Wave 5. Keep an eye on the volume and momentum 📈 as BTC progresses through these key levels.
⚠️Disclaimer:⚠️
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
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