Bitcoin's Elliott Wave and Cylce Analysis

Bitcoin's price has surged close to the $100,000 level, fueled by increasing optimism and hype, particularly following Trump’s victory in the US elections. While this milestone has sparked renewed bullish sentiment, it's critical to remember that Bitcoin is now in uptrend for only last four week, but it has been in an moving up since December 2022, marking nearly two years of consistent gains.

So actually, we may now be in the late stages of this bull run.

Keep in mind that when optimism and positive news dominate, like the prospect of Bitcoin being added to US reserves under Trump, it often aligns with the peak of a trend. While this kind of news could potentially drive one last strong upward move (FOMO / Blow-off), it might also signal the end of this cycle.

Historically, extreme optimism is a warning sign, and the Elliott wave analysis supports this view. Bitcoin is currently in its fifth wave, with potential for slightly more upside, possibly extending late into January time projection. Its going to be the 20 or 26 weeks of a recovery from August low.

Smart investors will consider taking some parts of profits now rather than risking missing an exit, especially now when we approach the year end.

The market's shift from "optimism to pessimism", can be swift and surprising. Greed often leads to losses, so prudence is key at this stage.

On another note, we have a Black Friday offer on our Elliott Wave service. It’s a great opportunity to stay aligned with market rhythm and sentiment during this critical period.

If you are celebrating, I wish you a happy Thanksgiving!

Grega