Flat Correction Likely | Awaiting Confirmation of Wave-C
Based on current long-term Elliott Wave structure, Bitcoin's next major uptrend likely began following wave-X, with price action targeting $150,000 or higher over the next 1–2 years.
Structural Overview
🔹 Wave-X completed after the initial bullish cycle
🔹 The recent drop below $80,000 confirms that wave-A is corrective
🔹 The behavior of wave-B — in both size and complexity — strongly suggests a Flat correction is unfolding (3-3-5 structure)
Previous Week’s Forecast
“The minute we see a larger, more powerful rally than any seen for months, we can assume wave-C:5 has begun.”
This remains valid. However:
🔹 While Bitcoin has bounced off this year’s low, the move is not large or impulsive enough to confirm the end of wave-B
🔹 No decisive breakout has yet occurred to validate the start of wave-C
What We’re Watching
To confirm that wave-B has bottomed, and that wave-C has begun, we need:
🔹 A swift, high-momentum rally above $95,000
🔹 Volume expansion and impulsive candles
🔹 Breakout from current corrective structure with follow-through
Once these conditions are met, we can confidently state that Bitcoin is resuming its uptrend, and $150,000+ becomes a realistic target for the coming phase.
Conclusion:
Wave-B may not be complete just yet. But the moment Bitcoin breaks out with strength above $95,000, it will mark the beginning of a powerful wave-C rally, with long-term bullish continuation expected.
