Veteran trader Matthew Dixon has projected a bullish target for Bitcoin between $130,000 and $160,000, based on Elliott Wave analysis. Dixon identifies the current phase as Wave (V) in Bitcoin's macro structure from 2011 to 2025. This phase began at the March 2020 low of approximately $3,800, with significant sub-waves including a peak of $69,000 in November 2021 and a correction to around $15,000 in late 2022. The analysis suggests Bitcoin is nearing the end of a long-term five-wave cycle, potentially leading to a significant price surge.