Bitcoin Price Prediction: Analyst Sets $320,000 Target As Wave 5 Begins

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Bitcoin Price Prediction: Analyst Sets $320,000 Target As Wave 5 Begins - NewsBTC

Quick Summary:

This wave, which is known to be bullish, is expected to be the final sub-wave formation in a larger Elliot wave uptrend that has been in play since January 2023. Supporting the possibility of the wave 5 formation, technical analysis of the Bitcoin price formation shows that the recent price rally has seen Bitcoin breaking out of a cup-and-handle formation.

In a recent technical analysis, crypto analyst Gert van Lagen identified a bullish pattern in Bitcoin’s price chart, specifically pointing to a confirmed breakout of the classic cup-and-handle’ pattern formation that has essentially kicked off a bullish Wave 5 run.

Textbook Weekly Golden Cross Shows What’s Coming Next Interestingly, these bullish candle formations have validated what crypto analyst Gert van Lagen called the start of a sub-wave 5 formation.