According to a technical analysis from analyst Xanrox, the Bitcoin price is on the road to reaching the $130,000 mark by January 2025 and then will crash rapidly to $60,000. As of December 4th it was trading at +$95,000.
To support his forecast, Xanrox relied on a combination of Fibonacci extensions and Elliott impulse waves, two of the most popular analysis tools. These tools allowed Xanrox to pinpoint a journey to the $130,000 target and a sharp retracement to $60,000.
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