that recent market downturn That hasn’t stopped analysts from remaining bullish on the Bitcoin price. According to a new report from market watchers, Bitcoin Entering a new parabolic phaseIt signals the end of a potentially long-term correction. One analyst points to the correlation between BTC and gold as a sign of a possible ATH, while another applies Elliott Wave analysis to set new price targets for the leading cryptocurrency.
Bitcoin price prepares for parabolic move towards $245,000.
According to Crypto Tice’s latest technical analysis: Gold takes the leadBitcoin is currently at a turning point. analyst proposal Weekly price chart that tracks both assets and shows how to use gold price movements to determine Bitcoin’s next parabolic move to its all-time high of $245,000.
chart track Gold and Bitcoin price movements The projected movements from 2016 to 2026 show a repeating pattern with uncertainty peaking first in gold. After that, capital flows into precious metals, and their prices soar and fluctuate. Money flows into BTC.. Crypto Tice said these cyclical stages have been repeated in every market cycle.
From the first cycle, July 2017 to the fourth quarter of 2018, Gold price rises to all-time high It signals a broader trend exhaustion rather than a breakdown before trading in a narrow range. Soon after, Bitcoin began a strong rally, reflecting a shift of capital from precious metals to higher-risk assets.
The same pattern emerged in the 2020-2021 cycle. Gold reached new highs and remained in a narrow range, while Bitcoin posted strong gains. This surge coincides with another green profit rotation area on analysts’ price charts.
On the far right of the chart, Crypto Tice reveals that gold has once again reached a new high in the current cycle and is consolidating within the red range. At the same time, Bitcoin has already risen sharply and is currently experiencing a slight decline. Analysts call this the “transit period” between the two assets.
Crypto Tice noted that this latest pause reflects the same pattern seen in past cycles before Bitcoin staged major price rallies. The analyst believes that if BTC continues this historical trend, it could soon enter a new parabolic phase, potentially price surge Over $245,000.
Elliott Wave Analyst Shares Next BTC Price Target
In a separate analysis, cryptocurrency market expert Merlijn the Trader said: shared Video chart analysis showing repetitive content Elliott Wave Structure This could represent the next potential bullish target for Bitcoin. From late 2024 to mid-2025, BTC formed a five-wave pattern that created higher lows and built a base that led to significant price increases.
According to Merlijn the Trader, Bitcoin is repeating this. 5 wave pattern In the current cycle. Waves 1 to 3 have already been completed and are showing higher lows, while waves 4 and 5 are forming a base after a large price crash. Once this step is completed, analysts predict that BTC could rise strongly from its current price of $87,900 to $124,000.
Featured image from Pixabay, chart from Tradingview.com
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