Where Is Bitcoin (BTCUSD) Headed After Record Highs?Bitcoin / U.S. dollarBITSTAMP:BTCUSDElliottwave-ForecastThe short-term Elliott Wave analysis for Bitcoin (BTCUSD) indicates a five-wave impulse cycle unfolding from the September 1, 2025 low. Wave 1 reached $117,968, and wave 2 corrected to $108,739. Bitcoin then surged to a new all-time high, advancing in wave 3. Within wave 3, sub-wave ((i)) peaked at $109,995. Sub-wave ((ii)) pulled back to $108,676. The rally progressed, with sub-wave ((iii)) hitting $125,725. Sub-wave ((iv)) found support at $122,355, maintaining the bullish structure. Sub-wave ((v)) is nearing completion, finalizing wave 3 on a higher degree. Following this, wave 4 should correct the rally from the September 25, 2025 low. The uptrend will likely resume in wave 5. As long as the pivot low at $108,676 from September 25 remains intact, dips should find support in a 3, 7, or 11 swing pattern. This support will facilitate further upside. After wave 4 concludes, traders can project the wave 5 target using the 123.6–161.8% inverse Fibonacci retracement of wave 4. This calculation will provide a precise target for Bitcoin’s next rally. The cryptocurrency’s price action reflects strong bullish momentum, suggesting continued growth in the near term.