BISHNU_P_BASYAL

Bitcoin is nearing the culmination of a remarkable price surge, targeting $127K as it moves through the final fifth wave of its Elliott Wave structure. This rally, which began at $15.48K in November 2022, has captured global attention as the world’s largest cryptocurrency continues to demonstrate resilience and increasing adoption. After a brief dip from $99.8K to $90K, Bitcoin has regained upward momentum, with analysts eyeing a significant milestone in its ongoing bull run.The chart illustrates Bitcoin’s bullish journey, showcasing the completion of its five-wave pattern while hinting at possible retracements post-$127K.The ongoing rally in Bitcoin reflects not only its resilience but also the growing maturity and adoption of cryptocurrencies as a key asset class. This final fifth wave signifies a pivotal phase in Bitcoin’s price movement, driven by market dynamics, increasing institutional interest, and technological advancements. As the cryptocurrency market continues to evolve, Bitcoin’s trajectory reinforces its role as a cornerstone of the future financial ecosystem. This growth is a testament to the transformative power of blockchain technology, which is reshaping how value is exchanged globally.Potential influence of U.S. regulatory developmentsIf Mr. Paul Atkins, known for being crypto-friendly, were to lead the SEC, it could have a significant impact on Bitcoin and the broader crypto market. Regulatory clarity and a more open approach could foster greater adoption and investment in cryptocurrencies. It'll be interesting to see how things unfold."This rally underscores Bitcoin’s expanding role in the decentralized finance revolution, with its anticipated $127K milestone symbolizing a broader transformation in the global financial ecosystem. As market participants await developments in regulation and institutional involvement, Bitcoin continues to cement its position as a leading asset in the digital era.

A rise from the November 2015 level of $1050 per ounce in Gold Spot may have ended at $ $2080 per ounce in May 2023.Over the next year and a half, a correction to $1500 per ounce is possible. Gold may rocket higher in wave 3 after bottoming near $1500 per ounce by the end of 2024. https://www.tradingview.com/x/xIWfjJyP/

Since the low of $15500 in November 2022, the BTC/USD uptrend has maintained a series of higher highs and higher lows. It is currently on Wave 1-2, Wave -[ii], and Wave (i)-(ii). This series may continue until it breaks below $24825. Immediate support is expected to be found near $28335 and $27506, which correspond to the 50% and 61.8% Fib. retracement levels of Wave (i). The ultimate target is to reach $51000 by the end of 2023 and $62000 by the first quarter of 2024.