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We talked about Bitcoin consolidation throughout to whole summer and we shared a lot of articles about an Elliott Wave corrective movement within uptrend. We were talking about wave IV correction that can send the price higher for wave V, after summer range is over.

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BTCUSD Weekly Chart From August 29

As you can see today on November 08, Bitcoin with ticker BTCUSD is back to all-time highs for wave V, after Donald Trump won the elections in US, but there can be still room for higher prices before market actually find top.

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BTCUSD Weekly Chart From November 08

The reason why Bitcoin may see more gains within that wave 5th wave is also the monthly cycle period chart of BTC, which is still in the middle of a 35-month bullish cycle, so there’s still time for bulls to extend higher, ideally till 2025.

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BTCUSD Monthly Cycles

For a detailed view and more analysis like this, you may want to watch below our lates video analysis from November 08 2024:

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