After Bitcoin’s impressive leap beyond $123,000 in a single day, crypto analyst XForceGlobal restated his previous predictions and amplified his bullish stance. He now posits that Bitcoin is at the start of a much broader breakout, with the final, most parabolic phase of its rally yet to come.

His detailed chart demonstrates that Bitcoin is now trading over $40,000 above its Wave 2 nadir of the macro 5th. This suggests that the market might be shifting into Wave 3 of a larger Elliott Wave impulse pattern. The chart visually breaks down previous bull market runs into distinct macro phases, each commencing after a halving cycle.

Each phase kicked off with a consolidation period, succeeded by exponential growth, and finally, a correction. Bitcoin’s price history is also marked by the halving events of 2012, 2016, 2020, and 2024—all of which have consistently preceded significant bullish rallies. The most recent halving, which took place in April 2024, is projected to usher in a medium-term rally that could push BTC’s price beyond $270,000 prior to another corrective phase.

While XForceGlobal holds a bullish long-term view on Bitcoin, he advises investors to exercise caution, acknowledging that the final wave may create market euphoria before a substantial decline ensues. His proposed roadmap reveals a steady bullish ascent towards $272,832, followed by a potential retracement to about $41,646, signifying a drastic 85% crash from the peak.

In a subsequent post, XForceGlobal predicted Bitcoin’s next short-term price target at $155,000. This prediction comes as BTC recently soared past $123,000 before experiencing a pullback, currently trading slightly above $116,800. According to the analyst, Bitcoin is solidly in an extended Wave 3, which traditionally represents the most impulsive and potent phase of the Elliott Wave sequence.

XForceGlobal’s chart indicates that Bitcoin recently broke out from a complex WXYXZ correction structure, which served as the springboard for the current rally. His forecast implies that BTC is now forming a five-wave structure targeting the $140,000-$155,000 range, with macro-level corrections anticipated along the journey.

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