Bitcoin Poised for 393% Surge to $350K on Elliott Wave Pattern

A revised Elliott Wave count suggests that Bitcoin is currently in a classic step-like formation, with significant implications for its future price movements. According to the updated analysis, Blue Wave 3 peaked near $110K, while Blue Wave 4 bottomed around $75K. The market is now in the midst of Blue Wave 5, with subwaves i and ii already complete. This structure indicates a deep retracement after wave 3, followed by a strong surge in wave 5, setting the stage for substantial upside potential.

The key milestone to watch is a weekly close above Bitcoin’s all-time high, which is approximately $70–$75K. This would confirm the start of wave 5-iii, the most powerful leg of the cycle according to Elliott Wave theory. Historically, wave iii is known for leading to parabolic moves, and in this case, the bullish target is approximately $350K. To validate this view, several conditions must be met: a break and weekly close above the all-time high, continuation above $75K holding as support, and no breach below wave ii’s low to keep the bullish structure intact.

The projection of $350K is based on Fibonacci extension and historical wave spacing. The step-like build of i → ii → (now iii) mirrors the structure seen in wave 3, reinforcing the call for a massive upward trajectory once wave iii confirms. This analysis suggests that Bitcoin is poised for a significant rally, with the potential to reach new heights if the current wave pattern holds.

In the short term, key factors to monitor include price action above the all-time high, as a weekly candlestick close above this level would signal a shift to strong bullish momentum. Additionally, a retest of $75K as support for wave 4 and volume strength during wave iii will be crucial indicators of the market's direction. The typical characteristics of an accelerating impulse wave, such as increased volume, will be important to observe as wave iii unfolds.