Bitcoin's short, long, and longer term charts

📈 Bitcoin Long-Term Technical Outlook – Monthly Chart

This chart presents a macro-level technical analysis of Bitcoin using the monthly timeframe, highlighting key structural channels and Elliott Wave projections.

🔹 The broader ascending channel (blue) captures Bitcoin’s multi-cycle expansion since inception, with price currently rebounding from the midline support.

🔹 A secondary tighter ascending channel (red) frames the current cycle, suggesting a more accelerated slope in this bull phase. Price is approaching the upper bounds, signaling potential exhaustion areas.

🔹 The Elliott Wave structure overlays two possible scenarios:
• Primary Count (bold blue): Wave 5 in development, with an optimistic target in the ~$224K–$250K range if Wave 3 extends.
• Alternate Count (lighter blue): A more conservative end to Wave 5 closer to ~$130K.

🔹 RSI (14) on the monthly chart is nearing overbought territory but not yet peaking. The double-top formation in RSI from previous cycles is watched closely for signs of trend exhaustion.

🟢 Overall bias remains bullish as long as Bitcoin remains inside the ascending channel with higher highs and higher lows. However, caution is warranted as it approaches long-term resistance levels.

📌 Chart authored for educational purposes — not financial advice.