Is Bitcoin Headed For A New ATH After $104,000 Triumph? What This Market Expert Thinks

Bitcoin rebounded from $74,000 in mid-April, initiating a three-week uptrend. It surpassed $100,000, peaking at $104,300. NewThoughtCrypto analysts used the Elliott Wave Theory to forecast Bitcoin's next move. They suggest Bitcoin completed the fifth wave of an impulse phase, indicating an upcoming correction. The correction target is estimated between $86,000 and $89,000, based on Fibonacci retracement levels. A price bounce may occur during the corrective phase, before a full correction. Analysts predict a new all-time high attempt in the summer after the correction. A micro view suggests a potential rise to $106,000 before the corrective trend. Bitcoin is currently trading around $102,810, with decreased trading volume.