Bitcoin has yet to shed the weight of the $100,000 mark since it first broke above this psychological level in early December 2024. While it has managed to trade above this threshold at times, the rallies have been short-lived, with BTC retracing below $100,000 in recent months. Notably, at the time of writing, the asset is trading below this level, having even recently dropped below $91,000 in the past seven days. However, the trajectory for Bitcoin remains bullish, with technical analysis showing that the path to $180,000 is still valid.
Bitcoin’s Elliott Wave Structure Aligns With Bullish Trajectory To $180,000.
The struggle for Bitcoin to maintain a sustained breakout above $100,000 has left many crypto traders questioning when the next leg higher will begin. This is because traders know that a bullish Bitcoin is a bullish period for other cryptocurrencies. Interestingly, a crypto analyst on TradingView believes the answer lies in the Elliott Wave framework, noting that BTC will surge to $180,000 at a time when market sentiment is at its weakest.
The analyst highlights that Bitcoin’s price movement remains consistent with the Elliott Wave theory, which tracks market cycles through repeated patterns of investor psychology. Despite Bitcoin’s recent volatility, its overall structure remains bullish, and the ongoing correction aligns with the anticipated sub-wave formations. Â
According to the analyst, Bitcoin has already completed sub-wave 4 after the price crash last week. Notably, wave 4 is the second corrective move in the Elliott wave pattern before the fifth and final move upwards. With this in mind, the next move will be the final bullish leg of this cycle, which will ultimately push Bitcoin to an all-time high.Â
In terms of a price prediction, the analyst predicted an all-time high target of $187,000 during the fifth and final wave. The analyst also noted the formation of a rounding bottom pattern, which supports the bullish outlook. Interestingly, a cup and handle breakout pattern is also in play on the larger timeframe. This cup and handle pattern suggests a more extended rally with a final price target around $307,000.
When Can BTC Reach $180,000?
The analyst’s chart suggests that BTC’s move toward $180,000 will materialize within the current macro cycle. Given the completion of sub-wave 4 and the expectation of a final push in the ongoing Elliott Wave structure, the analyst projected that Bitcoin will reach the $180,000 mark sometime around the end of March 2025 With the asset currently trading at $97,200, this translates to a predicted 85% move within the next seven weeks.Â
Looking further ahead, the analyst also anticipates BTC reaching $307,000 sometime around October 2025. However, the exact timeline remains uncertain, and the first major hurdle would be a decisive breakout above $100,000. The speed at which Bitcoin bulls can push past this barrier will largely determine how quickly it can reach these price predictions.
