BTC prices are still on track of $ 140k this year, but 2026 will be painful, Elliot Wave expert says
Don’t call the top, the market analyst that specializes in Elliott’s theory of wave, told CoinDesk. He added that bitcoin that
would raw around $ 140,000 this year before slipping into a bear market in 2026.
The leading cryptocurrency by market value, dropped 4% last week, with prices hitting lows under $ 112,000 over the weekend, according to CoinDesk data.
Decline will come after weeks of income earning long -term holders close to $ 120,000 and in conjunction with sharp losses in basic crypto -related stocks such as approach (Mstr) and Coinbase (Coins).
Sell-off is a common wave of retracement, which represents a temporary breath from the previous bullish impulse wave, and can set a stage for a rally at $ 140,000 by the end of the year, according to John Glover, chief investment official in Crypto Financial Services Company LEDN.
“Caught tightly in summer doldrums, the price of BTC continues to comply with the expected trajectory and will soon complete the 5-wave transfer described by the Blue Line (on the chart) below, which will end the wave III (yellow line) of wave 5 (Orange line). All to say, we still target to hit $ 135,000 – $ 140,000 by the end of 2025, “Glover said in an email.
What is Elliott Wave?
The theory of the Elliott Wave, introduced by Ralph Nelson Elliott in 1938 in his book, “The waveis a way of understanding market movements by recognizing that they follow unpredictable, repetitive patterns such as natural fractals.
The main idea is that the psychology of the crowd moves the cycles, creating a pattern of five waves in the direction of the main trend or the impulse movement. The structure of five waves covers three impulse waves (1,3, and 5) and two retracing waves (2 and 4). Sometimes, the impulse waves are expanded and strong, consisting of their own 5-wave structure.
A three-wave corrective structure follows the structure of five waves. This 5-3 wave pattern repeats the same larger and smaller scales, allowing observers to estimate future price action based on the current market position within a broader context.
According to the above chart, the BTC is currently moving to the impulse wave (III) of extended impulse waves 5.
The impulse wave (III) Could hit a high $ 130,000 over the next few weeks, before prices dropped around $ 110,000 in September, completing the retrace wave (IV). After that, the final wave of impulse (v) In the larger impulse wave 5 will continue, marked a peak of the bull market around $ 140,000.
“When we achieve the $ 140,000-ish region, there will be a lot of debate on how much to go to the market, and I’m sure we’ll hear the bulls quoting $ 250,000 to $ 500,000 in 2026. This is not my thesis because I believe we will enter a bear market for BTC in 2026,” Glover said.
Glover’s contrasts with the popular narrative that the institution’s adoption by ETFs is broken The four -year cycle of Bitcoin, which historically suggests a peak of price this year followed by an extended bear market.
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