{"id":855411,"date":"2025-06-14T00:11:56","date_gmt":"2025-06-14T05:11:56","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/14\/elliot-wave-theory-shows-where-bitcoin-is-in-this-cycle-bull-rally-over\/"},"modified":"2025-06-14T00:11:56","modified_gmt":"2025-06-14T05:11:56","slug":"elliot-wave-theory-shows-where-bitcoin-is-in-this-cycle-bull-rally-over","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/14\/elliot-wave-theory-shows-where-bitcoin-is-in-this-cycle-bull-rally-over\/","title":{"rendered":"Elliot Wave Theory Shows Where Bitcoin Is In This Cycle \u2013 Bull Rally Over?"},"content":{"rendered":"

Bitcoins <\/p>\n

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Crypto analyst Tolimanu has used the Elliott Wave Theory to provide insights into where Bitcoin currently is in this market cycle. Based on his analysis, <\/span>the bull run<\/span><\/a> is not yet over, with the flagship crypto set to reach new highs.\u00a0<\/span><\/p>\n

Bitcoins Elliot Wave Theory Shows Bitcoin\u2019s Current Position In This Cycle<\/h2>\n

In an <\/span>X post<\/span><\/a>, Tolimanu noted that in Elliot Wave Theory, a 5-wave move up typically marks a primary trend, and an \u2018ABC\u2019 correction is a natural retracement of that trend. Based on this, he stated that unless <\/span>this Bitcoin correction<\/span><\/a> breaks major long-term support levels, such a decline would typically set up the next higher-degree bullish phase.\u00a0\u00a0<\/span><\/p>\n

On the bearish side, his accompanying chart showed that Bitcoin could still correct to as low as $73,969 on wave C of the ABC correction. However, as the analyst suggested, a hold above this support level could send BTC to new highs.<\/span><\/p>\n

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Source: Tolimanu on X<\/a><\/figcaption><\/figure>\n

Technical expert <\/span>Tony Severino<\/span><\/a> also recently warned that the Bitcoin price is in a precarious position. Despite the recent surge, he suggested that BTC is still in a bearish position. The expert remarked that if the daily momentum crosses bearish, it could prevent the weekly bullish crossover and pull the weekly LMACD below zero.\u00a0<\/span><\/p>\n

In another post, Severino noted that <\/span>Bitcoin\u2019s daily RSI<\/span><\/a> failed to get above 70, which is a key trigger required for a bullish impulse. He remarked that failure at 70 the last time led to the most vicious leg down of the last bear market. He added that the entire bear market remained below 70.<\/span><\/p>\n

The technical expert also noted that in 2023, the two local tops did make it above 70, but it wasn\u2019t convincing enough, while in 2024, the entire corrective phase stayed below 70 on the RSI. Basically, Severino highlighted the importance of 70 on the RSI and how BTC is still in a bearish position.\u00a0<\/span><\/p>\n

Bitcoins BTC Looking To Fill CME Gaps Below And Above<\/h2>\n

Crypto analyst <\/span>Titan of Crypto<\/span><\/a> revealed that Bitcoin is looking to CME futures gaps below and above its current price. The upside gap is between $96,480 and $97,300, while the downside gap is between $91,990 and $93,400. In another post, the analyst suggested that BTC might fill the downside gap before moving to the upside targets.\u00a0<\/span><\/p>\n

This came as he noted that the next key support for Bitcoin is the <\/span>daily Fair Value Gap<\/span><\/a>, which is around $90,000. The analyst added that a bounce from that zone is likely. His accompanying chart showed that the target on this bounce is $102,096.<\/span><\/p>\n

At the time of writing, the Bitcoin price is trading at around $94,300, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n

\"bitcoins
BTC trading at $94,316 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, chart from Tradingview.com<\/p>\n<\/p><\/div>\n

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Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.<\/p>\n

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Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.<\/p>\n

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.<\/p>\n

Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.<\/p>\n

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
\nIn his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.<\/p>\n

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.<\/p>\n

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

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Scott Matherson Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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