Elliot Wave Theory Suggests Bitcoin Price will Crash Below $40,000
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The Elliot Wave theory is widely used among Bitcoin analysts for its predictive power. Pseudonymous analyst XForceGlobal has used this theory to forecast Bitcoin’s price movements. According to the analysis, after completing subwaves 1 and 2, subwave 3 indicates a bullish trend, potentially pushing Bitcoin's price to $126,000. However, a subsequent bearish subwave 4 might lead to a major price crash to around $39,728. This would be followed by a final bullish subwave 5, pushing the price to approximately $153,000, completing the five subwaves. The analyst cautions investors to remain flexible as market conditions can change. While the Elliot Wave theory suggests higher levels before a crash, no theory can predict market movements with absolute certainty, and staying informed will help navigate market complexities.
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