Do not call the top yet, the market analyst specialized in Elliot Wave Theory told Coindesk. They added that bitcoin
In 2026, a bear will rally up to $ 140,000 this year before slipping into the market.
According to COINDESK data, the market price -leading cryptocurrency has fallen by 4% compared to the previous week, the prices fall into prices of less than $ 112,000 in the weekend.
The decline comes after weeks of weeks of lengthy holders near $ 120,000 and with sharp losses in major crypto-related stocks such as strategy (MSTR) And coinbase (Coin),
According to John Glover, the Chief Investment Officer of Crypto Financial Services Company LEDN, the cell-off is a specific retracement wave, which represents a temporary breath from the anterior rapid impulse wave, and can set the stage up to $ 140,000 for a rally by the end of the year.
“Caught firmly in summer doldrums, the BTC price continues to follow the expected trajectory and will soon complete the 5-wave moves shown by the blue line (in the chart), which will eliminate the wave III (Yellow line) Wave 5 (Orange line)To say all, we are still on the target of hitting $ 135,000 – $ 140,000 by the end of 2025, “Glover said in an email.
What is Elliot Wave?
Illiot Wave Theory, introduced in his book in 1938 by Ralph Nelson Elliot, “Wave principleThis is a way to understand market movements, they follow patterns to repeat patterns such as natural fructals.
The main idea is that the crowd moves in psychology cycles, making a pattern of five waves in the direction of primary trend or impulse move. The five-wave structure includes three impulse waves (1,3, and 5) And two back waves (2 and 4)Sometimes, impulse waves are enhanced and powerful, which includes its 5-wave structure.
A three-wave corrective structure follows the five-wave structure. This 5-3 wave patterns repeat on both large and small parameters, allowing observers to predict future price action based on the current status of the market within a comprehensive context.
According to the above chart, BTC is currently moving forward in a wave of impulse. (iii) Extended impulse wave 5.
Impulse wave (iii) The next few weeks could hit a high level of $ 130,000, before the prices were $ 110,000 in September, complete the Retric Wave (iv)After that, the last impulse wave (v) The larger impulse wave 5 will start again, marking the peak of a bull market at about $ 140,000.
“Once we receive a $ 140,000-Esh region, there will be a lot of debate on how far the market will go, and I am sure we will listen to the bulls by quoting $ 250,000 to $ 500,000 in 2026. This is not my thesis because we believe that we will enter a bear market for BTC in 2026.”
Glover contradicts with the popular legend that the institutional adoption through ETFs has broken the four -year cycles of bitcoin, historically indicating a price peak this year, followed by an expanded bear market.
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