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THE Bitcoin (BTC) is at $ 74,000 left traders speculation If the cryptocurrency finally hit a background. However, an CMT certified analyst suggests that the correction of bitcoin prices is far from over. He has foreseen An even deeper decline at $ 38,000 – $ 42,000, which it identifies as the final price of Bitcoin.
In a detail Analysis of graphics based on Elliott wavesThe certified technical analyst CMT Tony Severino describes a classic Impulsive 5 waves structure It seems to have completed your last step nearly $ 85,000. Severino’s analysis stresses that The last drop in bitcoin At $ 74,000 is only the start of a wider ABC corrective model, which could cause cryptocurrency to a bottom in the fork of $ 38,000 – $ 42,000.
New Bitcoin Price below entering
In the structure of impulses at 5 Bitcoin waves, the wave 1 started with a low -pointed bear market, followed by the wave 2, a corrective withdrawal. Wave 3 marked the strongest movement upwards, subdivided into five smaller waves (i to V). After the market stopped briefly for a decline in wave 4, Wave 5 started with a last push towards a peak close to $ 85,000.
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Following the top of the wave 5, Bitcoin Corrective structure ABC started, marked by the red line on the graph. According to the analyst, the cryptocurrency currently completes the wave A of this corrective model, which should be down nearly $ 62,000 to $ 65,000 by June 2025. This price range coincides with the previous main correction zone around the wave 4, which is a common target for wave A.
In particular, a greater concern comes after Bitcoin is possible $ 65,000 – $ 62,000. The analyst provides for a short -term rebound in wave B, followed by a more pronounced drop in the C. This slowdown should push the price of bitcoin to his Final lower target Between $ 38,000 and $ 42,000 by April 2026. This withdrawal target is still aligning with Sub-ae Vague 3, which often serves as a key trace area during market corrections.
Severino has confirmed by its technical analysis that the market is now in a Bear phase. Its price table incorporates cyclic synchronization models, marking a full market cycle characterized by a Haussier market peak In 2025, followed by a lowering market extending in mid-2026. This calendar is consistent with typical bitcoin Half four -year reduction cycleWhere the market reaches its peak the year after the event in half before entering a phase of the bear market.
The analyst signals the death of death in the BTC graphic
According to reports From Barchart on X, Bitcoin has just formed a Death Cross on its price table For the first time since September 2024. A death cross occurs when the Mobile Average (MA) crosses 200 MA.
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This distinct graphic model is often considered a lower sign, indicating that a potential decrease trend could be on the horizon. Considering that the price of Bitcoin fell at $ 78,900 at the time of the press, the appearance of a cross of death indicates a possibility of new breakup and consolidation.
Felash star image, tradingView.com graphic
