What's Next After BTC All-Time High? | Credit: Veronica Cestari
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Key Takeaways
The Bitcoin (BTC) price reached an all-time high on Nov. 6.
It took 237 days to break the previous Bitcoin all-time high.
What’s the next target, and when will the Bitcoin price reach it?
Bitcoin had corrected since its March all-time high of $73,777. The correction was contained inside a descending parallel channel with extremely choppy movement.
The count gives a target range of $85,100 – $88,800. The 1.61 external Fibonacci retracement of wave four (black) creates the lower boundary of the range. The upper boundary is created by giving wave five 0.618 times the length of waves one and three combined (white).
The ascending parallel channel that connects waves two and four can help determine when BTC will reach the high. The channel’s midline aligns with the target in March (black circle).
Aligning this with our target, the high may be reached in March (black circle).
If wave five extends, the Bitcoin price can reach a high near $107,168 – $113,278. The 2.61 external Fibonacci level gives the upper boundary, while the lower one is found by giving wave five the same length as waves one and three combined.
The same parallel channel suggests this high will be reached in July.
Technical indicators support this upward movement. This is especially visible in the Moving Average Convergence/Divergence (MACD), which has made a bullish cross in positive territory. This happened last at the beginning of wave three and led to the previous all-time high.
The Relative Strength Index (RSI) is also above 50 and increasing, corroborating the positive MACD reading.
Next Target Near $88,000
The Bitcoin price reached a new all-time high on Nov. 6. The price action, wave count, and indicator readings all suggest the upward movement will continue.
The first target range for the high is between $85,100 – $88,000, while the second is between $107,168 – $113,278.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
