The price of Bitcoin (BTC) has recently entered the consolidation phase after significant movements up, because the experience of the cryptocurrency market increased the variability at the beginning of the year.

Currently, the leading market cryptocurrency floats above the critical milestone $ 100,000, and analysts suggest that further price increases can occur on the horizon.

The analyst warns against “excessively stubborn fondness”

In detail analysis By a market expert known in social media as Daily Crypto Trading, the Wave Elliott theory is used to predict subsequent Bitcoin movements.

According to this analysis, the market may witness a flat repair wave, with a target in the range of USD 90,000. The analysis confirms that the last flat ABC structure remained at the level of 89-90k, which indicates that waves 4 ended.

The analysis emphasizes that although the sentiment surrounding the future of Bitcoin is “in the most part stubborn”, this can often serve as a warning sign.

As Daily Crypto Trading notes: “Although Wave 4 is ready, the sentiment is too stubborn, which is usually a red flag.” Investors are encouraged to be cautious in the situation, considering that although the analysis is rooted in probability, it does not guarantee results.

. Macroeconomic landscape It is also crucial for understanding Bitcoin’s trajectory. Daily cryptographic trade previously discussed the potential impact of the upcoming recession, which suggests that macroeconomic factors should be taken into account before immersion in technical analysis.

What does a price violation of USD 130,000 mean for Bitcoin?

Elliott’s wave theory, which was clearly correct in previous forecasts, is a key element of this analysis. Assumes that the markets are moving in the predictable wavesAnd now the emphasis is on the final pass Wave 4.

The expert predicts that if Bitcoin exceeds the critical level of USD 109,000, he confirms the beginning of the impulsive wave 5, suggesting a stubborn continuation.

Do bitcoins reach a powerful wave of 5, forecasts indicate a potential price escalate by 40-50% compared to current levels, with Fibonacci extension Levels suggesting goals of USD 113,000, USD 117,000 and even USD 121,000.

However, there is a reservation: the wave may be cut, which leads to a double creation and subsequent corrections, or may not reach the up-to-date one High all time (ATH). In this way, exceeding the $ 109,000 sign is considered a critical milestone to escalate the likelihood that the dunes of the peak will reach USD 120,000.

And vice versa, if Bitcoin immersed in an area of ​​$ 90,000, this would mean the formation of a regular zigzag pattern, which suggests that the wave 4 may not be complete.

The annulment point at USD 130,000 was established as failure rate; Violation of this level may suggest an unforeseen stubborn breakthrough towards the target of USD 170,000.

Currently, BTC is 104,300 USD, registering losses of 1.4% in 24-hour time frames.

A distinguished painting with Dall-E, chart from tradingview.com