2024

Bull Market

Bitcoin

<ul>
 <li>Bitcoin's next bull market could peak at $95K-$100K by early 2025, according to Elliott Wave theory projections.</li>  
 <li>Bear market bottom for Bitcoin is expected between $23K-$25K during 2026 following a major correction phase.</li>  
 <li>Bitcoin's short-term outlook shows bearish sentiment, with resistance at $62K and potential consolidation around $57K.</li> 
</ul>  
<p>In a recent analysis shared on X, a prominent crypto analyst, @CryptoBullet1, outlined a two-year outlook for Bitcoin that projects substantial <a href="https://cryptonewsland.com/bitcoin-market-fear-reaches-new-lows/" rel="noopener noreferrer nofollow">price movements</a>. According to the analyst, Bitcoin is currently completing Wave 4 of an Elliott Wave cycle, which could lead to a substantial rally into a potential bull market peak of $95,000 to $100,000.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoBullet1/status/1825472844572012900
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</figure>  
<p>This prediction comes with the expectation that Bitcoin will break out of its current consolidation phase, often referred to as "chopsolidation," and advance towards the next cycle top.</p>  
<h2 class="wp-block-heading" id="h-elliott-wave-cycle-points-to-bull-market-peak"><strong>Elliott Wave Cycle Points to Bull Market Peak</strong></h2>  
<p>The analyst's forecast relies on the application of Elliott Wave theory, which is commonly used to predict market cycles. In this scenario, the <a href="https://cryptonewsland.com/qcp-capital-sees-market-reversal-what-traders-should-watch-for/" rel="noopener noreferrer nofollow">current market position</a> is seen as the fourth wave of a five-wave cycle.&nbsp;</p>  
<p>The anticipated fifth wave is projected to push Bitcoin's price to the range of $95,000 to $100,000, which aligns with the 1.618 Fibonacci extension level. This extension is a widely recognized indicator for identifying potential wave completions.&nbsp;</p>  
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc_W0RtYWR1Ub4U-d5IbB5oOhT50aOU2-46scGu2jPMsUSIUVIg04RtuIgqdebfCRF2OEBaeidaUgzmYmrMV1z5FE3my_dA9Mr_EgL4Nzft9X-35u5w2n_YbywK_miMcQHu4nsnhJBIVrH0hpjMYemRFG9A?key=AT9s8O3AGwvsL5k_uHxh_Q"></p>  
<p>Source: <a href="https://x.com/CryptoBullet1" target="_blank" rel="noopener noreferrer nofollow">CryptoBullet1</a> on X</p>  
<p>The projection suggests that this peak could be reached between December 2024 and March 2025, at which point the market is expected to face resistance and enter a corrective phase.</p>  
<h2 class="wp-block-heading" id="h-bear-market-expected-after-reaching-cycle-top"><strong>Bear Market Expected After Reaching Cycle Top</strong></h2>  
<p>After achieving the anticipated peak, the analyst predicts a transition into a bear market. This phase is expected to unfold through an A-B-C correction pattern, where Bitcoin's price could bottom out between $23,000 and $25,000.&nbsp;</p>  
<p>The initial wave of this correction is anticipated to occur in mid-2025, with a temporary recovery phase, often referred to as a "Dead Cat Bounce," occurring between September and December of that year. The final and most challenging phase, labeled as Wave C, is projected to dominate 2026, leading to a significant price decline.</p>  
<h2 class="wp-block-heading" id="h-short-term-outlook-highlights-bearish-sentiment"><strong>Short-Term Outlook Highlights Bearish Sentiment</strong></h2>  
<p>At press time, Bitcoin was trading at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$58,250</a>, the price shows a slight downward trend. Notably, the price is struggling to hold above key Fibonacci retracement levels, with the 61.8% retracement at $62,024.28 acting as a notable resistance point.&nbsp;</p>  
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc85Ed4XdBYk-_95X6Fn54wjhG1wj7Gu-k6lxId0IjgZs-15EQ-T7a6EBRDE5MZFhuLZfPqPnBVQOuF4LCVDhe7I07GJ7eSDvrgefc26e93s7p-R9XGGonjQzHUB986v721LKqTccuIvz9VYVxSwHyS3ZG9?key=AT9s8O3AGwvsL5k_uHxh_Q"></p>  
<p>Source: <a href="https://cryptorank.io/price/bitcoin/full-feature-chart" target="_blank" rel="noopener noreferrer nofollow">CryptoRank</a></p>  
<p>Bitcoin's position below the 9-period exponential moving average (EMA) and the relative strength index (RSI) of 42.44 <a href="https://cryptonewsland.com/bitcoins-bearish-divergence-signals-explosive-altcoin-season/" rel="noopener noreferrer nofollow">indicate a bearish</a> to neutral market sentiment. However, should Bitcoin maintain support around the 38.2% Fibonacci level, there may be potential for consolidation before any possible reversal.</p> 
<p>The post <a href="https://cryptonewsland.com/analyst-predicts-bitcoins-bull-market-peak/" rel="noopener noreferrer nofollow">Analyst Predicts Bitcoin’s Bull Market Peak at $100K Followed by a Bearish Correction to $25K</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Analyst Predicts Bitcoin’s Bull Market Peak at $100K Followed by a Bearish Correction to $25K

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