The post Bitcoin (BTC) Heading to $160,000: Top Analyst Henrik Zeberg appeared on BitcoinEthereumNews.com. This time Henrik Zeberg, one of the market’s most popular macro analysts, claims that the current suffering is merely an emotional reset prior to an ultimate euphoric surge. Zeberg’s thesis Zeberg contends that the current state of Bitcoin, Ethereum and the cryptocurrency market as a whole is a classic Wave 2 capitulation within an ongoing bull cycle. Elliott Wave Theory states that this stage follows a significant corrective Wave B and is usually when sentiment is at its lowest, which is precisely when investors tend to give up just before a parabolic rise. BTC/USDT Chart by TradingView Zeberg observed, “Capitulation is the emotional reset prior to the final act, not the end. In a bull market, this is where we should feel the worst.” This interpretation is reflected in the current technical structure of Bitcoin. After a brief rejection from $114,000, the asset is now trading at about $108,000, right on its 200-day moving average (black line). Fear and fatigue are indicated by RSI readings close to 40, but there is not yet a structural breakdown. Pre-rally accumulation phases have historically been characterized by such conditions. You Might Also Like Zeberg thinks that as the market is flooded with fresh liquidity and risk appetite, the next phase, Waves 3(4)-5, will produce the most explosive move to date. He believes that Ethereum will follow in a vertical fashion, possibly reaching $6,000, $7,500, $10,000 or even $12,000 as the cycle peaks, while Bitcoin will rise well above $160,000. Zeberg cautions that this will be the Everything Bubble’s terminal phase — the parabolic peak prior to a massive deflationary unwinding. “Market sentiment will say the opposite at the top,” he continued, implying that euphoria will obscure the warning indicators. For the time being, the correction is clearing the market, eliminating weak hands and… The post Bitcoin (BTC) Heading to $160,000: Top Analyst Henrik Zeberg appeared on BitcoinEthereumNews.com. This time Henrik Zeberg, one of the market’s most popular macro analysts, claims that the current suffering is merely an emotional reset prior to an ultimate euphoric surge. Zeberg’s thesis Zeberg contends that the current state of Bitcoin, Ethereum and the cryptocurrency market as a whole is a classic Wave 2 capitulation within an ongoing bull cycle. Elliott Wave Theory states that this stage follows a significant corrective Wave B and is usually when sentiment is at its lowest, which is precisely when investors tend to give up just before a parabolic rise. BTC/USDT Chart by TradingView Zeberg observed, “Capitulation is the emotional reset prior to the final act, not the end. In a bull market, this is where we should feel the worst.” This interpretation is reflected in the current technical structure of Bitcoin. After a brief rejection from $114,000, the asset is now trading at about $108,000, right on its 200-day moving average (black line). Fear and fatigue are indicated by RSI readings close to 40, but there is not yet a structural breakdown. Pre-rally accumulation phases have historically been characterized by such conditions. You Might Also Like Zeberg thinks that as the market is flooded with fresh liquidity and risk appetite, the next phase, Waves 3(4)-5, will produce the most explosive move to date. He believes that Ethereum will follow in a vertical fashion, possibly reaching $6,000, $7,500, $10,000 or even $12,000 as the cycle peaks, while Bitcoin will rise well above $160,000. Zeberg cautions that this will be the Everything Bubble’s terminal phase — the parabolic peak prior to a massive deflationary unwinding. “Market sentiment will say the opposite at the top,” he continued, implying that euphoria will obscure the warning indicators. For the time being, the correction is clearing the market, eliminating weak hands and…