Using technical indicators such as Fibonacci extensions and Elliott Wave Theorycrypto analyst identifies the ideal “sweet spot” for trading Bitcoin (BTC). According to the analysis, certain value areas are identified as target BTC to sell places that investors and traders can use strategic exits before a potential downturn.
Analyst Puts $169,000 And $194,000 As Sell Points For BTC
In an X (formerly Twitter) post, crypto analyst Tony Severino it was revealed that Bitcoin is currently in Wave 5, facing the final push of its Bullish Elliott Wave cycle. In previous cycles, The highest amount of BTC is terminated further near the 1.618 Fibonacci expansion of subsurface waves i to iii.
This is Severino’s place Bitcoin chart shows that its price action is divided into five different waves. Wave 1 represents the first bullish movement, followed by Wave 2, a corrective pullback. Wave 3 stands out as a strong and extended wave, while Wave 4 presents another corrective phase. Finally, Wave 5, where BTC is currently trading, shows that it is possible the last bullish move to the top.
Each wave in the BTC chart has initiated an increase in price to different levels, either higher or lower. In Wave 5, however, Severino proposed a target price that will serve as an important selling point for investors and traders.
The analyst asked if BTC could repeat the historical trends and finish again at 1.618 Fibonacci extension Waves 1 to 3 combined. This points to a price range between $169,366 and $194,000. According to Severino, these price levels, marked in the red area on the chart, are called the “sweet spot.” He identified these value areas as an important selling point for Bitcoin.
Currently, BTC is trading at $96,341, which means Severino expects the leading cryptocurrency to rise by 75.31% and 101.24% to reach a target range between $169,000 and $194,000, respectively. The analyst asserts that his bullish prediction is a reasonable price for Bitcoin, underlining his confidence that the cryptocurrency can beat itself. new ATHs.
For traders and investors, the sell position is an ideal exit point that can lock in profits and prevent capital losses before the trend reverses. Whether Severino’s “sweet spot” holds or not, his analysis provides important insights into Bitcoin’s potential price movements and potential sell-off targets for investors.
Top Bitcoin Market Expected in 2025
Trader Tardigrade, a popular crypto analyst, announced in X that is Bitcoin cycle of 4 years still playing. An analyst warns that 2025 could still be an important year for Bitcoin. He predicts that BTC will reach a market peak in 2025, creating a great opportunity for investors who missed out on its currency. ATH in 2024.
However, investors who overlook this window of opportunity in 2025 may have to wait until 2029, after next half eventat the next market price of BTC. Share price chart, Trader Tardigrade highlighted Bitcoin price performance during each four-year cycle.
The analyst noted that during each halving cycle from 2011 to 2023, Bitcoin rose to a peak value the following year after the halving event. If this historical trend remains, Bitcoin could experience another final rise to new heights in 2025.
The featured image was created with Dall.E, a chart from Tradingview.com