Bitcoin (BTC) may be on the edge of a significant market move, as a crypto analyst warns that failure to reach an all-time high in the coming weeks could trigger a sharp correction. While long-term bullish sentiment remains strong, the immediate outlook hinges on whether BTC can maintain an upward momentum and avoid a damaging setback that could derail or further stall its current rally.
Bitcoin Faces 50% Crash Threat
A prominent crypto analyst, Tony Severino, has issued a stark warning to Bitcoin investors on X social media. He cautions that a failure to break a new all-time high soon could spark a massive price crash—potentially wiping out over 50% of BTC’s current value.
In his shared Elliott Wave chart analysis, Severino highlights Bitcoin’s current position within what appears to be an intermediate Wave 4 Expanded Flat correction. According to the structure, Bitcoin may be nearing the end of wave B, which typically precedes a steep drop in wave C.
Severino’s analysis draws parallels between BTC’s current price behavior and the 2021-2022 expanded flat correction that defined Primary Wave 4. At the time, Bitcoin peaked in wave B before cascading into wave C, resulting in a brutal bear market.
A similar pattern appears to be developing in BTC’s current chart structure. The chart highlights that the recent surge in the cryptocurrency’s price could be forming a deceptive wave B peak, which may soon reverse into a wave C crash targeting the $60,000 region or lower. A decline to this level would represent a 50% drawdown from current levels, near $118,000.
Notably, Severino’s warning does not stem from a bearish conviction but rather from cautious optimism. While he maintains a strong bullish long-term outlook and believes Bitcoin still has a final Wave 5 rally ahead, the analyst emphasizes the need for BTC to break out into a new ATH soon to invalidate the expanded flat scenario.
Should the market fail to deliver this upside move, the corrective structure could dominate and significantly delay the next upward impulse leg. A potential crash could also severely disrupt the long-anticipated altcoin season, stalling momentum across the broader crypto market.
Analyst Sets Bitcoin’s Next ATH Target
Bitcoin has ignited fresh optimism over the past week following its latest price surge above $123,000. Despite pulling back to its current price above $118,000, a market expert identified as ‘The Crypto Professor’ on X predicts that the flagship cryptocurrency is gearing up for a fresh all-time high.
The Crypto Professor has set Bitcoin’s next ATH target at $129,948, coinciding with the 1.618 Fibonacci Extension level. With BTC now trading at $118,612, this would represent a solid 9.6% price gain. Notably, the analyst’s chart shows previous consolidation zones around the $110,000 and $100,000 region, matching the Fibonacci Retracement levels of 1 and 0.786. These levels now serve as potential support zones in the event of a retest.
Featured image from Pixabay, chart from Tradingview.com
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