What stage are we currently in the Bitcoin bull market? Since Bitcoin experienced a double bottom on September 6th, we have entered the so-called fifth wave.

There are two possible scenarios for the development of the fifth wave:

The first is a traditional five-wave structure. If this structure is followed, then the fifth wave may be similar to the third wave in terms of movement and duration. The third wave started on September 12, 2023, and ended on March 14, 2024, lasting a full six months. Based on this pattern, the Bitcoin bull market is likely to end in February or March of next year, with a higher likelihood of ending in March.

The second is a terminal wedge triangle structure. If this structure is presented, then the duration of the fifth wave will significantly exceed that of the third wave, meaning the bull market could continue until the second half of next year.

Given the current situation, the fifth wave is more likely to follow the traditional five-wave structure. We are currently in the final stage of the third sub-wave of the fifth wave, with a target price expected to exceed $110,000.

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