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

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.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Btcusd Btc Bitcoin Bitcoin news BTC news Bitcoin price Btc price Crypto analyst BTCUSDT Crypto news Analyst Bitcoin Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 22:30:55 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 493 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23560882

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