A widely-held crypto strategist is drawing a line into the sand for Bitcoin (BTC), triggering rally towards an all-time high.
A video shared with X’s 475,400 followers states that Crypto Trader is reliable, assuming that Bitcoin needs to surpass its key price areas to spark three of the five wave surges that could drive BTC to $150,000.
Reliable Practice Elliott Wave Theory states that bullish assets tend to show five wave gatherings, with waves 1, 3, 5 acting as upward movements and 2, 4 acting as periods of revision.
According to traders, Bitcoin completed its first wave, rising from $105,000 to $125,000, and is now among two corrections for the wave. According to the trader, his wave numbers will remain in effect unless two corrections for Bitcoin waves fall below $105,000. This is the starting point for Wave 1.
“This third wave, which hasn’t started yet, should move to at least $135,000, assuming it starts now… Realistically, the third wave is often big, but let’s say it reaches $135,000.
That’s a relatively conservative goal. It is based on the development of price action, in addition to $150,000. The bottom line means I don’t think it’s below $105,000. ”
Source: Trustworthy/YouTube
At the time of writing, Bitcoin is trading at $112,971.
Generated Image: Midjourney
