Is 74,000 dollars the bottom for Bitcoin? CMT authorized analyst says 38,000 dollars-42,000 dollars is coming
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the Bitcoin decreased to $ 74,000 Leave the merchants Speculation Whether the cryptocurrency has finally reached down. However, an authorized CMT analyst notes that the bitcoin price correction is not yet over. He has Propagate A deeper decline to $ 38,000 – 42,000 dollars, which is determined by Bitcoin’s final price.
In a joint Analysis of the Elliot Wave PlanCMT Tony Severo’s technical analyst determines classic 5 wave of brown rush This seems to have completed his final leg near $ 85,000. Severino’s analysis highlights this The last decrease in Bitcoin To $ 74,000 is just the beginning of the broader ABC corrective pattern, which is likely to lead the cryptocurrency down in the range of $ 38,000 – $ 42,000.
The next new bitcoin price
In the 5 -wave pulses of the pulses of Bitcoin, wave 1 began with a decrease in the acute bear market, followed by a wave 2, a corrective decline. The 3 wave was distinguished by the strongest upward step, divided into five smaller waves (from i to V). After a short period of time, the market stopped to decrease in the 4 wave, Wave 5 began to pay for a peak near 85,000 dollars.
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After the top of the wave 5, Bitcoin ABC corrective structure It started, the red line was distinguished by the graph. According to the analyst, the cryptocurrency currently completes the A wave of this corrective pattern, which is expected to stand near $ 62,000 – $ 65,000 by June 2025. This price range coincides with the previous main correction area around the 4 wave, which is a common goal for the ARTRACEMENTS.
It is worth noting that there is more concern yet Potential Bitcoin crash To $ 65,000 – $ 62,000. The analyst expects a short -term bounce in the B. The final bottom goal Between $ 38,000 and 42,000 dollars by April 2026. This goal increases to decline with the IV sub -wave 3, which often serves as a main moderate area during market corrections.
Severino confirmed through his technical analysis that the market is now in a Bear. Its price scheme includes periodic timing models, on the occasion of a full market cycle that is distinguished The peak of the bull market In 2025, followed by the bear market that extends to mid -2016. This schedule is consistent with the model of Bitcoin Half a four -year cycleWhere the market reaches its peak in the year after the semi -event before entering the bear market stage.
Flags of analysts Cross in BTC chart
according to Reports From Barchart on X, just formed Bitcoin Death Cross on the price scheme For the first time since September 2024, the death cross occurs when the average medium (MA) crosses less than 200 mA.
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The distinctive graph style is often a Habboudia sign, indicating that the potentially downtown may be on the horizon. Looking at the decrease in the price of bitcoin to 78,900 dollars at the time of the press, the emergence of the death cross indicates the possibility More collapse And monotheism.
Distinctive image from Unsplash, Chart from TradingView.com
