Bitcoin’s Momentum and ETFs Indicate a Synchronized Upward Trend
- Technical analysts highlight Bitcoin's Elliott Wave patterns suggesting a prolonged correction near completion, with key Fibonacci levels at $107,271 and $117,981 critical for trend reversal. - A break above $117,981 could confirm bullish momentum, targeting $123,220 and potentially $159,000 before a deeper pullback, supported by MACD divergence and a three-day rally. - U.S. spot Bitcoin ETFs have drawn $50B in inflows, with BlackRock and Fidelity leading adoption, reinforcing Bitcoin's role as a macroec
Technical analysts are once again focusing on Bitcoin’s Elliott Wave structure, pointing to possible indications of an upcoming surge in price. Recent technical reviews show that Bitcoin’s price movements are following traditional Elliott Wave formations, hinting that the extended correction phase could be drawing to a close. The digital asset recently found support at the 61.8% Fibonacci retracement from the June-July rally ($107,271), a level commonly associated with second wave corrections. This phase, identified as an irregular expanded flat (orange W-a, -b, -c = 3-3-5), includes the latest drop from the August peak, which is categorized as orange W-2 Bitcoin Elliott Wave Count Suggests Next Rally May Be Imminent [ 1 ]. Experts observe that Bitcoin’s current price sits within a pivotal range between $112,564 and $109,807, and a move above the previous high of $117,981 could mark the end of the bearish trend Elliott Wave count suggests Bitcoin’s next rally is around [ 2 ].
Historical analysis further emphasizes the importance of this pattern. Second waves typically retrace between 50% and 76% of the preceding first wave, and Bitcoin’s present position fits this orange W-2 scenario. If the price can hold above $117,981, it would signal the onset of gray W-iii, a stage often marked by robust upward momentum. Should this play out, bulls may set their sights on $123,220, with some analysts projecting a climb toward $159,000-$161,000 before a more substantial correction (green W-4) might take place Elliott Wave Pattern Signals Bitcoin’s Next Major Rally Is ... - BTCC [ 3 ].
The Elliott Wave count also highlights several crucial warning levels for bullish traders, outlining four significant price points that could determine the continuation of the uptrend. Maintaining a price above $112,043 (blue level) implies a 25% likelihood of a W-1/W-2 formation, while dropping below $111,118 (gray level) increases the odds to 50%. The most critical threshold is $107,271 (red level); falling beneath this would negate the current bullish outlook Bitcoin Elliott Wave Count Suggests Next Rally May Be Imminent [ 1 ]. Technical signals, such as bullish divergence on the MACD and a three-day rally not witnessed since July 11, add further weight to the possibility of a trend reversal Elliott Wave count suggests Bitcoin’s next rally is around [ 2 ].
While not directly related to Elliott Wave theory, the impact of institutional involvement and ETF investments offers a broader perspective on Bitcoin’s strength. U.S. spot
The intersection of technical signals and institutional trends underscores Bitcoin’s growing market sophistication. Although the Elliott Wave model serves as a method for identifying price patterns, its convergence with on-chain data and capital movements points to a broader shift in investor attitudes. Traders should keep a close eye on major resistance levels and institutional activity, as confirmation of the wave count could spark a notable upward breakout.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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