Bitcoin’s Elliott Wave Journey to the End of 2024
2024-11-13

Bitcoin began its upward movement on August 5, 2024, at a low of $49,000, reaching a high of $65,200 on August 25, 2024. This marks the first impulsive wave in the Elliott Wave structure. 🔼

Afterward, the market entered a corrective phase, reaching a low of $52,400 on September 6, 2024, signaling a brief pause in the bullish trend. 🛑

Now, the third wave has started, which is typically the strongest and longest wave in a bullish trend. It is expected to extend to a price range of $100,000 to $110,000. 📈

Within this deep wave, two additional sub-waves are forming, adding complexity to the movement. These could keep Bitcoin on its upward trajectory through the end of December 2024 or into the first week of January 2025. 🌀

Ultimately, the fifth wave is projected to end around $130,000, signaling the possible start of a new corrective phase. ⏳