Completion of Bitcoin's Elliott Wave Structure in an Uptrend
2024-12-06

hi guys👋

📈 Bitcoin is currently moving within a complex structure of Elliott Waves. For those who are unfamiliar with this concept, Elliott Waves suggest that market prices move in waves, both upward and downward. These waves form in nested levels, creating a pattern that can be tracked.

🚀 At the moment, Bitcoin has completed its abc irregular correction of Wave 4, and it looks like it’s now entering Wave 5, the main upward move. This Wave 5 itself contains multiple nested levels, meaning each of the targets for this wave is also a smaller Wave 5 within a larger structure.

🎯 The price targets for Wave 5 are approximately $113,000, $125,000, and eventually $130,000. This uptrend could continue until the end of December 2024 or early January 2025, completing the Elliott Wave structure.

⚡ The recent correction was mainly a quick move to liquidate long futures positions, and now the upward trend will likely resume.

Wishing you all success! 🙌