About Bitcoin
After Bitcoin ETFs were approved by the SEC, the price of Bitcoin rose almost 60% to $73,777. The market thought that the price of Bitcoin would go to $100,000 without correction, but contrary to the market’s expectation,the Bitcoin price was in a correction phase for 6 months, and after almost 6 months and the re-election of Trump as President of the United States, Bitcoin returned to its upward trend.
Bitcoin Forecast by NEoWave(Update)
Cash Data 6M
In the 6-month cash data for Bitcoin, it appears that a Running Neutral Triangle is forming and we are currently in wave-D of this triangle. Based on the previous mid-term Bitcoin analysis, as long as Bitcoin’s price remains above $70,000 there is potential for the price to rise to $150,000. Therefore, wave-D of the neutral triangle could expand and grow larger.
Until wave-D is complete, we cannot accurately predict the endpoint of wave-E( The label-E shown in the image is not precise and will likely change) However, after wave-D concludes, the price will experience at least a 50% correction to complete wave-E of the triangle, followed by a strong upward move in Bitcoin.
The analysis will be updated once wave-D is complete.
Good luck
NEoWaveChart
