Bitcoin (BTC) may be on the outskirts of a significant market movement, as a crypto analyst warns of not reaching a highest time In the coming weeks could trigger a sharp correction. While prolonged haussey feeling remains strong, they hang the immediate prospect if BTC can maintain an upward speed and avoid a Harmful setbacks It can trace or further stop its current rally.
Bitcoin is facing 50% crash threat
A prominent crypto analyst, Tony Severino, has Issued A sharp warning to Bitcoin investor on X social media. He warns that a failure to break a new highest time may soon lead to a Massive price accident– Potentially wipes over 50% of BTC’s current value.
In his shared Elliott Wave Chart AnalysisSeverino highlights Bitcoin’s current position within what seems to be an intermediate Wave 4 expanded flat correction. According to the structure, bitcoin may approach the end of wave B, which usually precedes a steep decline in wave C.
Severino’s analysis draws parallels between BTC’s current price behavior and 2021-2022 expanded flat correction that defined primary wave 4. At that time, Bitcoin topped in wave B before the cascade to wave C, resulting in a Brutal bear market.
A similar pattern seems to be developed in BTC’s current chart structure. The diagram highlights that the recent increase in the Cryptocurrency price can form a misleading wave B top, which can soon turn to a wave C crash aimed at the $ 60,000 region or lower. A decline to this level would represent a 50% reduction from current levels, close to $ 118,000.
Especially Severino’s warning does not come from a baisse -like conviction but rather from cautious optimism. While he maintains a strong Bus -salt long views and think that bitcoin still has one Final wave 5 rally forwardThe analyst emphasizes the need for BTC to break out in a new ATH soon to annul the expanded flat scenario.
If the market fails to deliver this upward movement, the corrective structure may dominate and considerably delay the next up -impulse leg. A potential crash can also seriously interfere with Long-awaited Altcoin seasonStalling momentum over the wider crypto market.
Analysts put bitcoin next ATH target
Bitcoin has ignited fresh optimism in the last week after the last Price transition over $ 123,000. Although he withdraws to his current price over $ 118,000, a marketing expert was identified as ‘The Crypto Professor’ at X predict That the flagship Cryptocurrency is on its way to a new highest time.
Crypto professor has set up Bitcoin next ATH target to $ 129 948, coincides with Fibonacci extension level 1.618. With BTC now trading to $ 118,612, this would constitute a solid price increase of 9.6%. Noteworthy shows the analyst’s diagram previous consolidation zones around $ 110,000 and $ 100,000 region, which matches the Fibonacci -RetraCement levels of 1 and 0.786. These levels now act as potential support zones in the event of a re -tasting.
Trained Image from Pixabay, charts from tradingview.com
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