Professional trader Alessio Rastani believes that the first cryptocurrency is confidently moving towards a six-figure price.
In his interview, Alessio referred to a generally accepted and widely used form of technical analysis - the Elliott wave theory.
According to him, Bitcoin has already entered the last stage of the current bull market, which will lead to a new historical maximum price. According to the theory, patterns based on market sentiment alternate between impulsive phases that set a trend and corrective phases that can track a trend.
The bullish impulse phase consists of 5 large waves, and the bearish corrective phase contains 3 smaller waves.
Following the natural sequence of cycles, BTC is in the fifth and final wave of the bull trend since 2019. The wave should reach its peak next year and bring the price of BTC to $100,000 dollars.
I expect a bear market after the completion of the fifth wave.
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