In a detailed analysis using Elliott Wave principles, crypto analyst Big Mike predicts that Bitcoin's price could soar to between $130,000 and $140,000. He suggests that a breakout above $95,000 or a bounce from a support level near $72,895 could trigger this upward trajectory.
The analysis involves complex wave structures, Fibonacci extension targets, and significant moving averages. Big Mike indicates that surpassing $95,000 might lead to an impulse wave reaching $114,693, followed by a potential corrective dip to $102,000 before climbing to $137,727 or even $150,000.
He also notes descending wedge formations and volume profiles, emphasizing key resistance and support levels. His roadmap suggests potential price outcomes, with BTC trading at $90,053 at the time of his assessment.