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📊Bitcoin ($BTC ) to $200,000? Elliott Wave Breakdown 🚀

Bitcoin’s on fire, surging toward $120,000 and eyeing a potential $200,000 target! 🔥 Let’s dive into the Elliott Wave Theory driving this rally.

📈 Elliott Wave Breakdown:

• Motive Phase (5 Waves): Bitcoin’s chart shows a textbook 5-wave impulsive pattern since mid-April, starting at ~$65,000.

• Wave 1: Climbed to $90,000.

• Wave 2: Corrective pullback.

• Wave 3: The strongest leg, pushing BTC into six figures.

• Wave 4: Consolidation, followed by the current Wave 5 breakout with high volume, signaling strong institutional buying.

• Next Up?: If Wave 5 extends like past bull cycles (2017, 2021), BTC could hit $140,000–$200,000. 🚀

⚠️ Caution Ahead:

• After Wave 5, a corrective A-B-C retracement often follows, testing new buyers.

• RSI is in overbought territory, hinting at a possible pullback.

• Watch for declining momentum or a break below the ascending support trendline as signs of a Wave 2 correction.

📊 What’s Next?

Bitcoin’s history of blow-off tops suggests it could overshoot previous highs, but stay sharp for volatility. Are you riding this wave or waiting for the dip? 👀