Bitcoin Price Enters Ascending Phase After Cup And Handle Formation At $105,000, Here’s The Next Target
Este artículo también está disponible en español. Crypto analyst CobraVanguard has revealed that the Bitcoin price has entered an ascending phase after a cup and handle formation at the $105,000 level. Based on this bullish pattern, the analyst highlighted the price target that BTC could reach as it enters this ascending phase. Bitcoin Price Could Rally To $123,000 As It Enters Ascending Phase In a TradingView post, CobraVanguard predicted that the Bitcoin price could rally to $123,000 as it enters the ascending phase by the cup and handle pattern. According to the analyst, BTC is in a large cup and handle, and if it follows this pattern, its price will have a nice rally. His accompanying chart showed that the flagship crypto could hit the $123,000 price target. Related Reading The analyst also revealed his golden analysis for the Bitcoin price, in which he revealed that the flagship crypto could rally to as high as $260,000 in this market cycle. His accompanying chart highlighted an ascending channel, which showed that BTC could hit this target if it reached the upper part of the channel. BITC entering into an ascending phase | Source: ConbraVanguard on Tradingview Interestingly, other crypto analysts have provided higher targets for the Bitcoin price in this market cycle. Crypto analyst Tony Severino recently predicted that BTC could reach as high as $321,000 in this cycle. He highlighted a potential head and shoulder pattern on BTC’s chart and stated that the flagship crypto could reach this target if the pattern were valid. He also raised the possibility of the Bitcoin price rallying to $345,000. Severino explained that BTC could reach this ambitious price target if it touches the upper boundary of the primary uptrend channel over the last eight years or thereabouts. Meanwhile, for his more conservative targets, he predicted that Bitcoin’s price could top between $158,000 and $191,000 in this market cycle. Why BTC Hasn’t Reached Its Market Top Yet Amid the bearish signals pointing to a market top, crypto analyst Ali Martinez outlined several reasons why the Bitcoin price still has more room to grow in this bull run. First, he noted that cycle shifts typically occur when BTC surpasses 2.4x the 200-day Simple Moving Average (SMA), which is currently at $184,600. Related Reading Furthermore, Martinez stated that the Mayer Multiple suggests the Bitcoin price has more upside, with a potential market top of around $182,000. From a technical perspective, the crypto analyst highlighted Bitcoin’s cup-and-handle breakout, which points toward a target of $276,400. Lastly, he alluded to the halving cycle theory, which suggests that BTC could reach a market top between May and October 2025. At the time of writing, the Bitcoin price is trading at around $104,700, down almost 1% in the last 24 hours, according to data from CoinMarketCap. BTC trading at $104,170 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com Source link
Bitcoin Price At $321,000 This Cycle? Analyst Says It’s The ‘Math’
Este artículo también está disponible en español. Crypto analyst Tony Severino has provided an ultra-bullish outlook for the Bitcoin price, predicting that the flagship crypto could rally to as high as $321,000. The analyst admitted that this target was too high for BTC but added that it was simply the “math. Bitcoin Price To Reach $321,000 In This Market Cycle In a substack post, Tony Severino predicted that the Bitcoin price could rally to as high as $321,000 in this bull run. This came as the analyst highlighted a potential head and shoulders pattern that had formed on Bitcoin’s chart. The analyst claimed that if this bullish pattern was valid, then it projects a maximum target of $321,000 per BTC. Related Reading Severino admitted that this price target for the Bitcoin price is too high but remarked that it’s the “math.” Interestingly, the crypto analyst went on to give a higher price prediction for the flagship crypto based on another bullish pattern. According to him, BTC could reach $345,000 if it touches the upper boundary of the primary uptrend channel over the last 8 years or thereabouts. Bullish pattern hints at a path to $321,000 | Source: Chart on Coinchartist Meanwhile, Severino also provided more conservative targets for the Bitcoin price. The analyst predicted that BTC could at least touch $158,000. This came as he noted that the 2021 cycle peak inverse Fibonacci extension could project the 2025 cycle peak. If so, he stated that this peak inverse Fib extension is located among the lowest estimates for BTC at $158,000. The crypto analyst further remarked that another method of using the 1.618 Fib extension involves projecting the target from the peak of wave 3 from the bottom of wave 1. Based on this, he added that this calls for a potential target of $194,000. Severino provided another version that projects the 1.618 Fib extension from the top of subwave iii of 5 to the bottom of subwave i of 5. If this plays out, BTC could reach a slightly lower target of $186,000. Lastly, the crypto analyst also raised the possibility of the Bitcoin price peaking at $191,000. He highlighted a bull pattern, which, if valid, could send BTC to this target. BTC’s Price Action In The Short Term Crypto analyst Ali Martinez provided insights into the Bitcoin price action in the short term. In an X post, he stated that the key support level for Bitcoin is at $97,877, where more than 101,000 BTC were accumulated. The analyst further remarked that holding above this level is crucial to sustaining the bullish momentum for the flagship crypto. Related Reading In another X post, the crypto analyst provided a bullish outlook for the Bitcoin price. He noted that the number of BTC transactions over $100,000 has doubled in the past week, rising from $15,620 to $32,320. At the time of writing, the Bitcoin price is trading at around $104,300, down almost 1% in the last 24 hours, according to data from CoinMarketCap. BTC trading at $104,402 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com Source link