Bitcoin ‘Wave 3’ expansion targets $200K as sell-side pressure fades: Analyst

💡 DMK Insight

Bitcoin’s current price at $103,160 suggests we’re on the brink of a significant bullish wave. If analysts are right about a Wave III expansion, traders should prepare for potential price targets between $200,000 and $240,000. This isn’t just speculation; historical patterns show that such waves often lead to explosive growth. However, it’s crucial to monitor key resistance levels around $110,000 and $120,000. If BTC can break through these, it could trigger a wave of buying from both retail and institutional investors, further fueling the rally. But here’s the flip side: if BTC fails to maintain momentum and dips below $95,000, it could signal a reversal, leading to increased volatility and potential liquidation events. Keep an eye on the daily charts for signs of strength or weakness, and watch for volume spikes that could confirm the bullish sentiment. The next few weeks will be critical in determining whether this Wave III truly materializes or if we’re in for a correction.