The the recent drop in Bitcoin prices is not just another drop in the market, according to analysts; it could be one of the most critical phases for his long-term bullish structure in this cycle. Crypto market expert Tara emphasized that this ongoing recovery lays the groundwork for Bitcoin’s Next Big Bottom. Her analysis points to a potential Wave 5 correction that could take the price of BTC as high as $94,000 before the next big bull trend begins.
Bitcoin price expects recovery after wave 5 retracement
In a technical analysis shared on social media X, Tara exposed that the latest Bitcoin price correction is “probably one of the most important pullbacks it will have in a long time.” She sees the decline as an essential process that prepares the leading cryptocurrency for a strong bounce in future. Based on her Elliott wave analysisthere are only two more waves left before the start of a broader market move.
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The analyst notes that the primary reason Bitcoin’s price drop is important is because it enables Relative Strength Index (RSI) for a recovery, creating ideal conditions for a bullish divergence. Subsequently, this divergence could establish a solid bottom for BTC, which is a key signal to begin with renewed upward trend.
In her chart, Tara identifies a key Fibonacci retracement zone between $103,400 and $104,900 as a resistance range for her current wave. The 0.382 Fib level is near $103,478, where Bitcoin price intersects with the moving average (MA), while the 0.5 Fib level is aligned with $104,943. The analyst notes that this range could act as a key pivot zone before BTC continues its correction into the final wave 5 to 94,000 dollars.
In addition, the chart shows that Bitcoin is currently recovering from the previous low near the 0.618 Fibonacci extension around $103,755.79. Trading volume it has also fallen more than 48% in the last 24 hours, while the RSI remains weak at 33.96, signaling that the market is still oversold.
Why the path to $94,000 is important for the next bull cycle
Answering questions from members of the crypto community below her X post, Tara clarified that Bitcoin could first rise to $104,000, a 0.97% gain from current levels above $103,000, before falling 9.6% to $94,000. She expects the price bottom will happen quickly and soon, while Bitcoin may need more time to build solid support before reversing into a new bullish phase.
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Tara stated that ongoing training could peak around the day of her analysis, but it could take a few more days to form a bottom. Despite the expected “pain”, she convinced market observers who need correction Bitcoin’s next leg is higher. She also stressed that the market may not experience growth until mid-December 2025.
Featured image from Pixabay, chart from Tradingview.com
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