Derived from Coinomedia, analysts suggest Bitcoin may be entering Wave III of the Elliott Wave cycle, with a potential price target of $240,000. Reduced sell-side pressure and strong on-chain indicators are cited as bullish signals. Key factors include declining exchange inflows, rising wallet activity, and macroeconomic tailwinds such as a weakening dollar and institutional interest. Traders are advised to watch for a breakout above $75K, sustained volume, and continued whale outflows as confirmation of the rally.
Bitcoin May Enter Wave III with $240K Price Target, Analysts Say
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