Technical analysis by MRR-Q133 about Symbol BTC on 1/1/2026

Bitcoin's long-term chart tells a familiar story of cycles within cycles. The super-cycle advance from the 2018–2022 bear market lows remains firmly in wave V territory, with the recent surge to $126,000+ marking a classic extended wave (3) or (5) of V. The current pullback—sharp but overlapping—has all the signs of a wave IV (or sub-wave (4) of V): shallow retracement, choppy action, and no impulsive downside yet. There's a strong case this correction isn't finished—one more leg down is possible to complete the flat or triangle before buyers regain control. Exhaustion is clear at the highs, but termination isn't. The structure still leans toward one last parabolic thrust in wave V, potentially to $150,000–$200,000+, once wave IV wraps up. Wave 4s are notorious for faking out everyone: bears convinced the top is in, bulls calling every dip "the bottom." Then wave 5 arrives—wild, emotional, and punishing to the impatient. Patience is the edge here. The chart isn't broken; it's just setting up for the finale.