Bitcoin BTC - 250 000 USD next target! Bull market continues.
- I think there is absolutely no time for a multi-year bear market at this moment.
- We had exactly the same correction (73%) as in 2020, and after that a massive bull run started.
- As per my Elliott Wave analysis, we are still in the bull market of an impulse wave and we need to finish it.
- An ABC correction (ZigZag 5-3-5, wave 4) has been completed successfully, and we can simply continue with a final wave 5.
- We can reach 250 000 USD next year, probably around December.
- 2017 swing high support successfully acted as a resistance in 2022 and the bulls successfully defended a possible bear market.
- The price is now above the 200 moving average. This MA is considered a very strong support zone by huge institutions and hedge funds.
- As you can see on the chart, the price is printing a second bullish flag / falling wedge and also a parallel channel on the log scale.
- I expect tremendous pumps for selected altcoins. You can find them in the related section down below.
- If you agree with my analysis or you are happy, please hit the "like" button and "follow"!
