Bitcoin Price Forecast: Bull Flag Breakout Targets ~$93K as 5th Wave Rally Accelerates

Bitcoin Bull Flag Breakout Puts $93K Target in Focus

Since our July 1 and subsequent August–early September updates, we have tracked a potential five-wave impulsive advance from the July low using the Elliott Wave Principle. That structure remains intact. The daily chart now shows a high-probability completion of a smaller-degree fourth wave off the July 1 low, with price action shifting into a fifth-wave advance (gray wave v) whose ideal target zone sits between $85,200 and $94,500. See Figure 1 below.

Meanwhile, the recent consolidation should resolve as a classic bull flag (outlined in the black box on the chart), and the measured-move projection from the flagpole points toward approximately $93,000 as an ideal target. Combined with the fifth-wave Fibonacci and resistance confluence, the $85K–$95K region is the primary upside objective.