From the perspective of wave theory, Bitcoin currently seems to be in the fifth major wave stage, which began on September 6, 2024. It is worth noting that the current market trend may be forming a terminal contracting triangle. This pattern typically has several notable characteristics: first, the upward movements of the first, third, and fifth sub-waves gradually decrease; second, the Trading Volume shows a declining trend; finally, the fourth sub-wave often overlaps with the first sub-wave.

Observing the current market situation, these characteristics seem to be gradually emerging. However, to further confirm this judgment, the key lies in the price movement of Bitcoin. If the price of Bitcoin breaks below the critical level of $109,000, it will provide stronger support for this theory.

It is worth mentioning that while the Elliott Wave Theory provides us with a framework for analyzing the market, the complexity and uncertainty of the market still exist. When making decisions, investors should not only consider technical analysis, but also pay attention to fundamental factors and the overall market environment. Furthermore, the high volatility of the cryptocurrency market also requires investors to remain cautious and manage risks effectively.

Overall, if Bitcoin is indeed in the final stage of a terminal descending triangle, we may see an important turning point in the market. However, whether for investment or trading, it is necessary to combine various analyses and not rely solely on a single technical indicator or theory.