From Investing.com:

Bitcoin, the largest cryptocurrency, could rally to $42,000 after a recent bounce from lows of $38,501, potentially retesting $40,500 before a possible skyrocket. The announcement of Bitcoin ETFs led to a general sell-the-news event, causing a 20% drop from an intraday high of $49,021. Despite this, Bitcoin’s resilience is observed, with the largest drawdown only reaching -20.1%. Elliott’s wave theory suggests a base between $36,000 and $38,000 before a fifth wave reignites last year’s ascent. Historical patterns also demonstrate that declines in bull markets are consistently followed by further upside increases, providing smart buying opportunities for investors.



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