Bitcoin (BTC) has attracted the attention of all crypto investors by experiencing major price fluctuations in recent days. Although he exceeded the $ 100,000 level for a short time, he retreated quickly and fell to $ 98,000. However, technical analysis shows that a new bull rally can begin soon.
Taurus Formation for Bitcoin!
Technical Analyst Trader Tardigrade, Bitcoin’s Bull Flag (Bulish Pennant) formation, he says. This model points to a new rally after the consolidation periods after harsh rise.
If Bitcoin breaks this formation upward, analysts think the price can rise up to $ 155,000. However, significant resistance levels need to be exceeded in order to continue the rise.
What are critical levels in Bitcoin?
Bitcoin’s biggest resistance point is at $ 104,000. This point was met with harsh sales in previous rise. If the BTC breaks this level, the price is expected to move to 110,000 and $ 120,000.
On the other hand, critical levels of support for Bitcoin are between $ 94,000 – $ 96,000. If BTC falls below this level, the rise scenario may be invalid and a deeper correction may be experienced.
What do long -term predictions say?
Analysts say Bitcoin remains in the long -term rising channel (Channel Up) formation. Tradingshot analysis reveals that Bitcoin exhibits similar movements with previous rise cycles.
Especially the 100 -day moving average tab is similar to the pre -rise movements in January 2024. If this fractal model works, a new parabolic rally can start a Bitcoin $ 145,000.
Is the target for Bitcoin realistic?
Currently, BTC is trading for $ 98.253 and lost 1.6 %on a daily basis and 3 %on a weekly basis. Global economic developments and macroeconomic indicators will determine Bitcoin’s next major move. If the market receives positive signals, BTC can enter a historical wave of rise.
Investors should closely monitor volume increases and internal data. If the purchase volume is strengthened, a rapid recovery may be experienced in the price of Bitcoin. However, macroeconomic uncertainties and possible regulatory risks show that fluctuations in the market may continue. Crypto investors should pay attention to risk management considering these movements and act with long -term strategies.
