Bitcoin could face a deeper correction toward $25,000-$35,000 before beginning another multi-year expansion, according to an Elliott Wave analysis from More Crypto Online. The technical roadmap projects a major cycle top in late 2029, followed by a bear market through 2030 and a final advance toward seven figures during 2031-2032. The projection is based on Elliott Wave count structure and historical comparison with bear market bottoms formed in 2018, 2020 and 2022, all of which developed near long-term rising support before Bitcoin began major expansions.
Elliott Wave Analysis Projects Bitcoin Cycle Top in Late 2029
The near-term structure remains corrective, with the chart highlighting several possible downside levels. Initial support sits near $56,300, followed by $44,000 and $39,400. A deeper decline could extend toward the $29,700-$34,400 region before the broader bullish sequence begins.
From that base, the projected five-wave advance targets progressively higher levels. The first major expansion could carry Bitcoin above $100,000, followed by later waves toward $300,000 and beyond. The model places the larger third-wave peak around late 2029, potentially near the high-six-figure range. It then projects a major correction through 2030 before another final advance toward seven figures during 2031-2032.
The Elliott Wave count depends on Bitcoin completing the current correction, forming a durable bottom and producing higher long-term highs before the 2029 peak projection gains stronger support.
Bitcoin Bear Market May Approach Final Stage with $25,000-$35,000 Support Test
The chart suggests the broader bear market could be approaching its final phase. One more decline toward long-term support may come before BTC begins a larger recovery into 2027. The projected path shows BTC falling toward roughly $25,000-$35,000 later in 2026.
The analysis compares the current structure with major lows formed in 2018, 2020 and 2022. Each earlier bottom developed near long-term rising support before Bitcoin began another major expansion. A strong reaction from the $25,000-$35,000 region could complete the bearish cycle and prepare the market for a recovery toward $100,000 or higher.
The chart shows a related Bitcoin and stablecoin-dominance measure approaching a support area that previously appeared near market bottoms. The outlook would weaken if Bitcoin loses long-term support and fails to recover.
FAQ
What does the Elliott Wave analysis project for Bitcoin's next cycle peak?
The Elliott Wave roadmap from More Crypto Online projects Bitcoin's next major cycle top in late 2029, potentially near the high-six-figure range. The model then forecasts a major correction through 2030 followed by a final advance toward seven figures during 2031-2032.
What support levels could Bitcoin test before the next bull market begins?
The analysis identifies initial support near $56,300, followed by $44,000 and $39,400. A deeper decline could extend toward the $29,700-$34,400 region. The chart also projects a potential drop toward $25,000-$35,000 later in 2026 before a larger recovery into 2027.
How does the current Bitcoin bear market compare to previous cycles?
The analysis compares the current structure with major lows formed in 2018, 2020 and 2022. Each earlier bottom developed near long-term rising support before Bitcoin began another major expansion. The chart suggests the current bear market may be approaching its final phase based on this historical pattern.
