Key Takeaways
- Bitcoin (BTC) surged above $100,000 for the first time since February.
- A 35% price increase since early April signals strong bullish momentum.
- Analysts debate whether BTC can sustain this rally to set a new all-time high.
Bitcoin’s Bullish Breakout
Bitcoin’s price plummeted 30% after its last peak, bottoming at $74,434** in April. However, a relentless upward trend has now pushed it past **$100,000, defying expectations with minimal retracements.
👉 Why is Bitcoin’s rally so strong?
Technical Analysis: Daily Chart
- Descending Trend Line Break: The April 20 breakout confirmed bullish momentum.
- Fibonacci Resistance: Initially stalled at $96,400, BTC cleared this level decisively.
- Elliott Wave Theory: Suggests the current uptrend is the fifth wave, potentially nearing completion.
Indicators Highlight Risks:
- RSI: Overbought conditions signal possible short-term pullback.
- MACD: Bearish divergence hints at weakening momentum.
BTC/USDT Daily Chart | Source: TradingView
Long-Term Trends: Bullish or Bearish?
Scenario 1: Bearish Outlook
- Completed Five-Wave Rally: Suggests Bitcoin’s upward cycle has peaked.
Key Evidence:
- Textbook wave ratios (1:1.61:1).
- Weekly RSI divergence.
Scenario 2: Bullish Continuation
- Fifth Wave Underway: Targets $130,000 for a new all-time high.
- Challenges: Extended third wave and irregular sub-wave structures.
BTC/USDT Weekly Chart | Source: TradingView
👉 What’s next for Bitcoin in 2025?
FAQs
1. Will Bitcoin’s price correct soon?
Given overbought RSI and MACD divergence, a short-term pullback is likely, but a corrective rally would confirm broader bullish trends.
2. What’s the realistic all-time high target?
Analysts project $130,000 if the fifth wave extends, though bearish scenarios caution against premature optimism.
3. How reliable is Elliott Wave Theory for BTC?
While useful for pattern recognition, external factors (e.g., regulations, adoption) can override technical signals.
Conclusion
Bitcoin’s break past $100,000 reflects strong demand, but conflicting long-term wave counts leave the trend uncertain. Traders should monitor:
- Short-term corrections for entry opportunities.
- Weekly RSI/divergences for trend reversals.
Disclaimer: This content is informational only. Consult a financial advisor before investing.
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