Bitcoin Wave III Could Target $240K, Say Analysts

Bitcoin may be entering Wave III with a $240K target. Analysts note fading sell-side pressure signals bullish momentum. On-chain indicators hint at the start of a strong upward rally.

Bitcoin is once again the center of bullish predictions, with analysts now pointing toward the start of a Wave III expansion. According to recent market analysis, this phase could push Bitcoin’s price toward an ambitious $200,000 to $240,000 range. The signal? A noticeable decline in sell-side pressure paired with strengthening on-chain indicators.

Wave III, based on Elliott Wave Theory, typically marks the most explosive upward move in a five-wave cycle. After months of consolidation and uncertain market direction, Bitcoin appears poised to break out of its range, potentially beginning a powerful surge.

Why Analysts Believe the Rally Has Begun

Analysts have identified key factors that support the beginning of Wave III:

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  Reduced Sell Pressure: Recent data shows a sharp decline in coins being moved to exchanges, suggesting long-term holders are not selling.
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  Strong On-Chain Activity: Metrics such as rising wallet activity and increasing Bitcoin balances in cold storage hint at accumulation rather than distribution.
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  Macro Tailwinds: The weakening dollar and continued institutional interest in crypto could provide additional fuel for the rally.

Furthermore, historical patterns show that once Bitcoin clears major resistance zones with low sell pressure, it often enters an aggressive upward phase — consistent with the characteristics of Wave III.

What to Watch Next

For traders and investors looking to confirm this bullish wave, key indicators include:

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  A decisive breakout above recent resistance levels (e.g., $75K).
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  Sustained volume during upward moves.
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  A continued drop in exchange inflows from whales.

If these signs hold, the path toward $200K–$240K could become clearer in the coming months, making this a potentially historic phase for Bitcoin.