Is Bitcoin Headed For A New ATH After $104,000 Triumph? What This Market Expert Thinks

Quick Summary:

Related Reading: Dogecoin Price Continuation Shows Rebound, But Resistance Is Mounting At $0.205 Micro Outlook Hints At $106,000 Target Before Correction In a micro view of the Bitcoin market using the 4-hour chart, the analysts at NewThoughtCrypto state Bitcoin appears to have completed waves I, II, and III, with wave III surpassing market expectations.

Related Reading: Bitcoin Whale Entry Prices Diverge Sharply – Confidence Builds At Higher Levels Bitcoin Macro Outlook Shows Charge To New ATH But A Market Correction Awaits In an X post on May 9, analysts at NewThoughtCrypto provided a macro and micro forecast of the Bitcoin market using the Elliott Wave Theory.

Using the $104,300 price level as a market top, the projected correction could draw prices to $86,000 – $89,000, a price range around the wave C in the corrective trend.   Notably, there is potential for Bitcoin to resume its bullish trend before the correction is over, as there would be a price bounce in line with wave B of the corrective phase.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: BTCUSDT Bitcoin Elliott wave theory Bitcoin price correction Bitcoin NewThoughtCrypto Btcusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-10 @ 16:30:56 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 419 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 28538101

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About NewsBTC

Main Topics: Crypto

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