Bitcoin Elliott Wave Theory suggests BTC price can drop to $25.5K this year By Cointelegraph

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© Reuters

The ongoing (BTC) price correction could continue as per almost a century-old technical analysis principle called the “Elliott Wave Theory.”

The interim bearish outlook put forth by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000 amid the Russia-Ukraine conflict.

weekly price chart featuring Elliott Waves. Source: TradingView
BTC/USD weekly price chart featuring sub-waves. Source: TradingView
BTC/USD weekly price chart featuring the ongoing Elliott Wave Cycle. Source: TradingView