$BTC Bitcoin is approaching an all-time high, causing confusion among investors. Analyst Ivan Skyrexio believes that a correction is near, followed by significant gains. According to his analysis, Bitcoin has completed a 5-wave cycle on the 4-hour timeframe, indicating the end of wave 1 in a higher wave 3 ¹.

The Awesome Oscillator has printed a divergence, indicating a high likelihood of a correction. The target for this correction is the Fibonacci level 0.5 at $90,000. However, Ivan advises against shorting this movement unless you are an experienced trader, as it goes against the trend.

Current market data shows Bitcoin trading at $102,921.08, with a market capitalization of $2.05 trillion ². Some analysts predict a potential drop to $86,000 before a new upward movement, while others see a breakout above $106,265 as confirmation of a bullish phase ³.

It is important to remember that market trends can change rapidly, and investors should conduct thorough research before making decisions.