Bitcoin’s price trajectory is poised for a dramatic shift, according to a comprehensive analysis that suggests a surge to $120,000 followed by a steep correction. Recent market analysis predicting a $150,000 Bitcoin target adds credibility to this bullish outlook, though with important caveats about timing and risk.
Technical Analysis Points to $122,069 Peak
Renowned crypto analyst Xanrox has unveiled a detailed Elliott Wave analysis showing Bitcoin entering the final stages of its current bull cycle. The cryptocurrency is currently in Wave 3 of a five-wave pattern, with technical indicators suggesting a peak target of $122,069 based on the 1.618 Fibonacci Extension level.
Key Technical Indicators Supporting the Prediction
- 50-week Simple Moving Average (SMA) showing strong support levels
- Long-term trend line alignment from 2017 and 2021 peaks
- Elliott Wave pattern formation indicating cycle completion
- Fibonacci Extension targets providing precise price levels
The Bear Market Warning: 50% Correction Expected
Following the projected peak, Xanrox warns of a significant correction that could see Bitcoin’s price plummet to $60,000 by 2026. This prediction aligns with historical patterns seen in previous market cycles, particularly the corrections of 2018 and 2022.
Strategic Recommendations for Investors
Given these projections, investors are advised to:
- Consider taking profits near the $122,069 level
- Prepare for the bearish transition in 2026
- Watch for confirmation signals from the 50-week SMA
- Plan for potential re-entry opportunities during the projected dip
Frequently Asked Questions
When is Bitcoin expected to reach $120,000?
According to the analysis, Bitcoin should reach this level during the final wave of the current bull cycle in 2025.
How long might the bear market last?
Historical patterns suggest the bearish phase could extend through most of 2026, with potential recovery beginning in 2027.
What are the key risk factors to watch?
Investors should monitor macro-economic conditions, regulatory developments, and institutional adoption rates as key factors that could impact this prediction.
