Crypto analyst R.N. Elliot has sounded the alarm for what he believes is the best time to buy Bitcoin. He identifies a “Double Zigzag” pattern that includes two zigzags, suggesting a recovery is imminent.
Elliot's chart points to the BTC all-time high above $73,000, followed by a crash from $70,000 to below $50,000. He believes the current price is poised for another rise.
Using the Elliot Wave tool, the crypto analyst predicts when the price might rise and fall. This tool involves a series of waves, indicating periods of bearish and bullish momentum. He suggests the price will soon rise to above $74,000, potentially even higher.
Moreover, Elliot expects an “Expanding Diagonal” pattern to form, which usually arises in an unstable market. His targets for the Bitcoin price rally are set at $84,331.6 for a short wave and $106,219.6 for a longer wave, setting records for the cryptocurrency.
