Wondering where #Bitcoin is headed?

Here’s my quick technical breakdown:

The market is at a key turning point. A weekly $BTC close above 104k, or holding the 98-100k range, could confirm a bullish breakout – aka the continuation of the bull run.

If we’re in wave 5 (based on Elliott Wave Theory) – reinforced by Fibonacci extensions (1.618/2.618) – targets between 128k and 145k could realistically be hit by mid-March.

This lines up well with the patterns we saw back in 2017.

Remember: history doesn’t repeat itself, but it sure likes to rhyme.

Here’s how it could play out based on the last two cycles:

2017 Style: No retest after the breakout. We’d see a fast, parabolic rally fueled by FOMO and strong buying momentum, sending us straight to the highs.

2021 Style: A key retest of support after the breakout. After clearing 104k, the price could briefly dip back to test it as support before heading higher.

In both cases, holding the 98-100k level is critical to stay in the bullish wave 5 setup.

As long as this zone holds, the projections for 128-145k remain solid, backed by reliable technical analysis.

But hey, this is all just TA – nothing’s ever certain. A macro shock or a black swan could always flip the script. 😅

DYOR and good luck, fellow crypto companion 🐪