A crypto analyst recently took to x (formerly twitter) and boldly predicted a new <a target="_blank" href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-to-130000-roadmap/amp/” target=”_blank” rel=”noopener nofollow”>Bullish Price Target for bitcoin in Q1 2025. The analyst, who has analyzed bitcoin's future price trajectory using Elliott wave theory, predicts that the fourth wave will end with a price drop to $91,000, while the fifth wave will see btc rise as high as $210,000 in this bullish cycle.
Wave 5 to boost bitcoin price to $210,000
On January 10, a crypto analyst known as “Capt. “Parabolic Toblerona” <a target="_blank" href="https://x.com/CaptToblerone/status/1877584637486133274″ target=”_blank” rel=”noopener nofollow”>predict that bitcoin will reach $210,000 before Valentine's Day in 2025. The analyst shared a bitcoin price chart from Q4 2024 to date, showing a Technical analysis of cryptocurrency price action based on <a target="_blank" href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-elliot-wave-count/amp/” target=”_blank” rel=”noopener nofollow”>Elliott wave theory.
The analyst chart identifies the first four waves of the Elliott Wave pattern, and bitcoin is currently close to completing the corrective Wave 4. Elliott Wave theory is a technical analysis that uses price patterns to <a target="_blank" href="https://www.newsbtc.com/news/bitcoin-price-prediction-elliott-wave-theory-btc/amp/” target=”_blank” rel=”noopener nofollow”>predict market movements.
Typically, Elliott waves progress from 1 to 5, which represents a distinct trend phase. While Wave 1 marks the beginning of a new trend, Wave 2 reflects a retracement of Wave 1. Wave 3 is the strongest and longest phase, often taking a cryptocurrency to new heights. Meanwhile, Wave 4 <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/a-20-30-correction-is-the-most-bullish-thing-that-could-happen-to-bitcoin-analyst/amp/” target=”_blank” rel=”noopener nofollow”>signals a price correction and consolidation and, finally, Wave 5 highlights a <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/bullish-reversal-for-bitcoin-retail-investors-flood-back-as-new-addresses-reach-4-month-peak/amp/” target=”_blank” rel=”noopener nofollow”>potential bullish reversal and the end of the pattern.
In the case of bitcoin, the analyst predicts that Wave 4 could end with a <a target="_blank" href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crash-100000/amp/” target=”_blank” rel=”noopener nofollow”>price drop at $91,000. On the contrary, Wave 5 is predicted to be a strong upward move, described by the crypto analyst as a “burst top.”
According to their analysis, Wave 5 is expected to push the price of bitcoin to around $210,000 by February 14, corresponding to the upper Fibonacci extension level of 6.618. The analyst has rated this bullish price target as the <a target="_blank" href="https://www.newsbtc.com/news/elliot-wave-theory-bitcoin-top/amp/” target=”_blank” rel=”noopener nofollow”>top of cyclemeaning that $210,000 could be the maximum that bitcoin could reach in this four-year cycle.
With bitcoin currently trading at $94,306, the analyst marks several Fibonacci Extension and Retracement Levels on the chart, indicating areas of resistance and support.
Major correction expected after peak
When predicting a <a target="_blank" href="https://www.newsbtc.com/news/bitcoin/bitcoin-cycle-top-on-chain-signals-you-need-to-know/amp/” target=”_blank” rel=”noopener nofollow”>bitcoin Market Top $210,000, Captain Parabolic Toblerone bitcoin Price Chart Highlights Potential ABC corrective structure following the blow cap. Correction Could Send bitcoin Significantly Down, Possibly <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/bitcoin-faces-major-deleveraging-analyst-explains-price-crash-below-100k/amp/” target=”_blank” rel=”noopener nofollow”>falling below $100,000. This pullback would represent a drop of more than 50% if bitcoin reaches the expected market peak of $210,000.
The anticipated drop is consistent with the historical patterns of the bullish cycle, where explosive rallies occur at <a target="_blank" href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-ath-cross-139000/amp/” target=”_blank” rel=”noopener nofollow”>new ATH precede a strong recession. In the case of bitcoin, this drop could potentially be the beginning of its anticipated bear market. Regarding this possible price drop, the crypto analyst recommends caution to bitcoin and altcoin investors, suggesting that traders “exit all alternatives” when btc reaches its expected high.
Featured image from Fortune, TradingView chart
