BTC Prices Still on Track For $140K This Year, But 2026 Will be Painful, Elliot Wave Expert Says
The post BTC Prices Still on Track For $140K This Year, But 2026 Will be Painful, Elliot Wave Expert Says appeared on BitcoinEthereumNews.com. Don’t call the top yet, market analyst specializing in the Elliott wave theory, told CoinDesk. He added that bitcoin will rally to around $140,000 this year before slipping into a bear market in 2026. The leading cryptocurrency by market value, has dropped 4% over the past week, with prices hitting lows under $112,000 over the weekend, according to CoinDesk data. The decline comes after weeks of profit-taking by long-term holders near $120,000 and alongside sharp losses in key crypto-related stocks such as Strategy (MSTR) and Coinbase (COIN). The sell-off is a typical retracement wave, representing a temporary breather from the preceding bullish impulse wave, and could set the stage for a rally to $140,000 by year-end, according to John Glover, chief investment officer at crypto financial services company Ledn. “Firmly caught in the summer doldrums, the BTC price continues to follow the expected trajectory and will soon complete the 5-wave move depicted by the blue line [in the chart] below, which will finish wave iii (yellow line) of Wave 5 (orange line). All to say, we’re still on target to hit $135,000 – $140,000 by the end of 2025,” Glover said in an email. What is the Elliott Wave? The Elliott Wave Theory, introduced by Ralph Nelson Elliott in 1938 in his book, “The Wave Principle, is a way of understanding market movements by recognizing that they follow predictable, repeating patterns like natural fractals. The core idea is that crowd psychology moves in cycles, creating a pattern of five waves in the direction of the primary trend or the impulse move. The five-wave structure encompasses three impulse waves (1,3, and 5) and two retracing waves (2 and 4). Sometimes, impulse waves are extended and powerful, comprising their own 5-wave structure. A three-wave corrective structure follows the five-wave structure. This 5-3…
The post BTC Prices Still on Track For $140K This Year, But 2026 Will be Painful, Elliot Wave Expert Says appeared on BitcoinEthereumNews.com.
Don’t call the top yet, market analyst specializing in the Elliott wave theory, told CoinDesk. He added that bitcoin will rally to around $140,000 this year before slipping into a bear market in 2026. The leading cryptocurrency by market value, has dropped 4% over the past week, with prices hitting lows under $112,000 over the weekend, according to CoinDesk data. The decline comes after weeks of profit-taking by long-term holders near $120,000 and alongside sharp losses in key crypto-related stocks such as Strategy (MSTR) and Coinbase (COIN). The sell-off is a typical retracement wave, representing a temporary breather from the preceding bullish impulse wave, and could set the stage for a rally to $140,000 by year-end, according to John Glover, chief investment officer at crypto financial services company Ledn. “Firmly caught in the summer doldrums, the BTC price continues to follow the expected trajectory and will soon complete the 5-wave move depicted by the blue line [in the chart] below, which will finish wave iii (yellow line) of Wave 5 (orange line). All to say, we’re still on target to hit $135,000 – $140,000 by the end of 2025,” Glover said in an email. What is the Elliott Wave? The Elliott Wave Theory, introduced by Ralph Nelson Elliott in 1938 in his book, “The Wave Principle, is a way of understanding market movements by recognizing that they follow predictable, repeating patterns like natural fractals. The core idea is that crowd psychology moves in cycles, creating a pattern of five waves in the direction of the primary trend or the impulse move. The five-wave structure encompasses three impulse waves (1,3, and 5) and two retracing waves (2 and 4). Sometimes, impulse waves are extended and powerful, comprising their own 5-wave structure. A three-wave corrective structure follows the five-wave structure. This 5-3…
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