Crypto analyst Credible Crypto suggests Bitcoin might experience a price surge during its current consolidation phase, based on Elliott Wave Theory.
Bitcoin and the Fifth Wave of Growth
According to analyst Credible Crypto, Bitcoin has entered the fifth and final wave of growth, based on Elliott Wave Theory. This could potentially push the price to $150,000 from current levels, implying a gain of at least 52%.
Potential Corrections and Market Risks
Despite the bullish forecast, short-term corrections are possible. The analyst warns that a retracement to $80,000 should not cause panic, and a drop to around $70,000 is seen as normal.
Long-term Strategy and Technical Analysis
It is crucial for major market players to consider technical indicators and market structure for identifying key buying and selling points. Investors are advised to view potential retracements as part of a long-term upward trend.
While Bitcoin is expected to reach significant highs, monitoring technical and market indicators remains essential for predicting further price movements.
