Bitcoin’s Final Bear Market Plunge Predicted by Analyst
- An Elliott Wave analyst forecasts a potential crash of over 14% for Bitcoin from its current price near $65,000.
- The analyst identifies the end of Bitcoin’s corrective Wave 4 structure, marking the start of Wave 5.
- Wave 5 is projected to target a decline to the Fibonacci Retracement level at $60,385 and further down to $55,759.
- The anticipated decline could result in Bitcoin losing more than half its value from all-time highs above $126,000.
Elliott Wave Strategy highlights that Bitcoin has completed Waves through four of a bearish impulse cycle, with Wave five underway. This suggests continued downside pressure on Bitcoin’s price until it reaches the next support levels at $60,385 and $55,759.
Investors are urged to prepare for further declines as the market shows no signs of recovery until this correction phase concludes. (Source)
