Hello, Skyrexians!
Earlier this year we made the predictions for Bitcoin and Ethereum. We assumed that price has finished the wave 4 for Bitcoin and wave 2 for Ethereum.
Today it looks like our forecasts are playing great. Trump won the elections in USA and cryptocurrency showed us the significant growth in one day. Bitcoin was even able to set the new ATH, some altcoins are also feel good. In today's article we are going to discuss if Trump really triggered new wave of bull run, or this is just a fake pump and soon we will see huge crash.
Navigating Bitcoin bull run: where is the final target
First of all let's take a look at the entire bull run which started at 15k. We can see on the chart below the beautiful impulsive wave.
This bull run shall consists of 5 Elliott waves. Maximum Awesome Oscillator value corresponds to the wave 3. Then we have seen the corrective wave 4 to 0.5 Fibonacci level. Look at this perfect touch! Do you remember the panic on the market on August 5? But we were sure that this is the end of dump. Awesome Oscillator crossed zero line also at this period of time. It was the early indiction that all this annoying correction is almost done. Then we saw the growth with the new ATH for Bitcoin.
Now price is printing the wave 5. Where is the target? Using our methods we predict the finish of bull run in the range between 85k and 107k. If you noticed - targets are unchanged! So, we suppose that bull run for $BTC is almost over. It will continue climbing up on this optimism, but not so far. Now let's try to understand more global price action.
On the global perspective Bitcoin is in huge danger
Now let's try to understand what can happen with Bitcoin and all crypto in the upcoming years. We don't have a positive view. Let's take a look at the chart below.
We can see, that Awesome Oscillator indicates the bearish divergence on the monthly time frame. Just imagine how strong is this signal! Moreover we have seen 3 red candles on AO, therefore momentum is slowing down. We expect that growth to 107k will be the final one and then the large wave 5 of the first super cycle will be finished. There the first true bear market will come. We suppose that the most hot stage of bear market will be in 2026 and it lasts to 2030!
This indicator said long 2 weeks ago!
On the chart below we can see that indicator Bullish/Bearish Reversal Bar Indicator [Skyrexio] flashed the long signal before this pump 2 weeks ago, when the local bottom has been reached.
It can be a little bit challenging to define the Elliott waves here, but indicator helps us to understand the potential reversal points. This indicator now publicly available on TradingView!
Conclusion
Despite Trump won elections in USA it's good and bullish news for crypto, this euphoria will not lasts long. We expect reaching the cycle top in the first half of 2025 and after that classical trading and investments can be challenging. It would be better to use algorithmic trading bot, grid bot or other automated trading features. During the severe bear markets it's great to use bots to increase your capital and invest on the bear market bottom.
Best regards,
Skyrexio Team
