Image Source: Unsplash

BlackRock’s Bitcoin ETF with ticker IBIT made a massive rally in 2024, which can be wave 3 of an ongoing five-wave bullish impulse. Despite the recent decline at the beginning of 2025, it’s still above 42 invalidation level, and as long as it’s above that level, it can be wave 4 correction, so we may still see that 5th wave this year.

(Click on image to enlarge)

IBIT Daily Chart

The Elliott Wave Principle is a form of technical analysis that identifies patterns in market movements. A bullish impulsive wave is one of the most important and common wave structures in an uptrend. It describes how prices typically move in the direction of the main trend. A bullish impulsive wave consists of five waves labeled 1, 2, 3, 4, 5.

For more analysis like this, you may want to watch below our latest recording of a live webinar streamed on April 14 2025: Direct Link

More By This Author:

US Dollar Is Moving As Anticipated In 2025
ALTcoin Dominance Is Waking Up
Ripple May Face Another Rally This Year