Bitcoin Confirms Bullish Wave Breakout With $104.7K as Next Key Target

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin forms a strong five-wave impulse, aiming for $104K after the Wave 4 breakout.Fibonacci levels at $94K–$97K show price resistance before the $104K extension target.Historical cycles suggest Bitcoin could rally to $320K by the end of the current bull phase.Bitcoin has reached its first key resistance at $97,500, aligning with early signs of a broader bullish wave, with market watchers tracking this move as a potential beginning of a five-wave Elliott impulse from recent cycle lows.Fibonacci Alignment Suggests Early Wave Structure FormationBitcoin’s recent price action shows a structured five-wave formation anchored in Fibonacci retracement levels and volume clusters. The move from $74,450 to $97,484 reflects early-stage wave development, now approaching the 0.888 extension level near $104,743. Market watchers continue tracking structural consolidation and breakout zones for confirmation of the larger cycle setup.According to Charting Guy, BTC price broke above key resistance near $97,500 after a textbook Wave 4 consolidation. He tracked this consolidation as a horizontal range lasting 50 bars or 84 hours, with increased volume of 110.04 K.Earlier, Wave 1 began the upward leg from $74,450 and established base-level momentum. It lasted 50 bars over 84 hours with a lower volume of 62.77 K. After this, Wave 2 retraced, and Wave 3 initiated a strong impulse. According to Charting Guy, Fibonacci zones align tightly with each price reaction across the impulse.Source: Charting GuyThe 0.5 level at $90,224 supported Wave 4, while the 0.618 and 0.702 levels at $94,413 and $97,512 marked congestion. The analysis tracks a projected top near the 0.888 Fibonacci level at $104,743. Bitcoin’s price has steadily respected Fibonacci levels, including lower retracement zones at $86,221 and $81,513.The analyst also pointed out that this wave progression matches standard Elliott Wave behavior, where each leg completes with defined volume and timing. If the full Wave 1 extends to $104,743, a corrective Wave 2 may emerge by mid-May.Macrocycle Structure Projects Bull Market ExtensionBased on macro-behavioral cycles, 0xNobler has presented a comparative analysis using long-term halving-aligned trends. His chart maps out Bitcoin’s market phases from 2013 through 2029 using geometrical patterns and historical repetition.Each bullish phase begins after a halving and follows a curved trajectory to a new cycle high. According to 0xNobler, the current structure mimics the early 2017 and 2021 patterns, projecting $320,000 as a potential peak. The cycle uses triangles and arcs to denote consistent intervals between bull and bear transitions.Source: 0xNoblerThe label “WE ARE HERE” places Bitcoin post-bear market, near the start of its next bullish advance. The green circular markers seen in previous cycles appear again in 2025, signaling another structural transition. This method, based on recurring geometry, shows rhythm and symmetry in Bitcoin’s long-term path.Source link