Where Is Bitcoin in the Cycle? The Monthly Chart and Three On-Chain Signals
1 extracted signal · 0 resolved · 1 still active
More Crypto OnlineIndependent analyst profile- Source published
- 12 Sept 2026, 20:23 UTC
- Recorded by Tahlil Plus
- 12 Sept 2026, 23:19 UTC
AI-generated source summary
The analysis presents two primary long-term Elliott Wave scenarios for Bitcoin on the monthly chart. The first scenario suggests Bitcoin is in wave 3 of a larger 5-wave impulse move, aiming for a target of $1,400,000, with a fail bound below $65,000. This implies a sustained bullish outlook. The second scenario, considered less likely, portrays Bitcoin completing wave 1 of a larger 5-wave impulse, followed by a corrective ABC structure for wave 2, with potential to reach highs of $160,000 before a significant downturn. The analysis also briefly touches upon the Puell Multiple indicator, suggesting that current levels are not yet in a bear market extreme. The speaker emphasizes the importance of context over precise wave counts due to the inherent complexity and subjective nature of wave analysis, particularly on longer timeframes.
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