Bitcoin at New Highs – Revised View - Why $130K–$140K May Be Next

🟦 Quick Overview

📈 Bias: Bullish (Short–Mid Term)

🎯 Signal: Buy

🧭 Why: Wave structure suggests upside continuation before topping

⏳ Timing Zone: Targeting $130K–$140K before a major correction

Why I’m No Longer Bearish Here

In a recent post (click here), I suggested we may be near the end of Bitcoin’s current bullish wave cycle. That view was based on my initial analysis of the wave structure and early signs of potential exhaustion. However, due to price action being corrective in the last couple of weeks, it is indicative that the market is priming for further upside.

After recharting the current wave using Elliott Wave guidelines, I believe this move is not done; price action suggests we are still in Wave (3) with targets now aligning between $130,000 and $140,000.

Updated Chart Breakdown

🔍 View Updated Bitcoin Chart Here

• ⚠️ Reversal Zone Now Higher: Fibonacci extensions cluster between $130K and $140K — potential exhaustion zone.

📝 Action Plan

✅ Position Strategy:

• A close above £123k with strong momentum gives good confirmation of breakout follow through.

• Be mindful of a retrace back to £114k as we are nearing the end of the 3^rd wave.

⛔ Invalidation Zone:

• Break below $98K invalidates this trade plan.

🎯 Profit Management:

• Watch $130K–$140K for signs of momentum divergence, reversal structure and decline in volume.

👤 My Position

I’ve shifted from “wait and see” to “wave still in motion.”

• I’ll maintain a bullish bias toward $130K–$140K, barring breakdowns.

Final Word

Bitcoin is still climbing its wall of disbelief. While many are looking for a reversal (myself being one of them), the wave count suggests there’s more upside to play for.

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I post structured ETF & crypto outlooks using Elliott Wave, trend and momentum analysis.