In crypto currency markets, eyes were turned to Bitcoin (BTC). BTC, which manages to hold over $ 80,000, may be on the verge of a giant rise in the light of historical data. According to experts, the price can climb up to $ 200,000 by overcoming critical technical levels. As Kriptokoin.com, we convey analyst views.
Does Bitcoin give a historical cycle signal?
According to the technical assessment shared by the crypto analysis platform Tradingshot, Bitcoin continues to remain on the 50 -week 50 -moving average (1W MA50). It is emphasized that this level was a sign before the great rally experienced in the past.
Analysts say that Bitcoin is based on the ceiling of the “growth channel” ceiling in which it rises and that if this resistance is overcome, a new parabolalic rally. This channel was broken in the previous cycles.
Bitcoin price will be 150 thousand or 200 thousand?
Bitcoin is currently on its way in the growth channel. If the channel is protected, the target of $ 150,000 in the medium term seems reasonable. However, if this channel is broken upward, the price, similar to past cycles, can reach $ 200,000.
“This is the only resistance that has not been broken in this cycle so far. In case of exceeded, the market can rise to the levels of over 200,000 dollars, Card he summarizes the possible scenario.
ETFs and Trump factor are on the agenda
The influence of ETFs on Bitcoin’s strength is also remarkable. According to Spot on Chain data, a total of $ 785.6 million entry to Spot Bitcoin ETFs last week. The biggest contribution came from Blackrock’s IBIT ETF for $ 535 million.
In addition, former US President Donald Trump’s recognition of Bitcoin as a strategic reserve also had a positive impact on the market. However, despite all these developments, investors are still cautious.
The first target for the price: 90 thousand dollars
Bitcoin is traded for $ 83,978 as of the moment of writing. Experts think that if the price of $ 84,000 is overcome with a weekly closing, the price can progress to 90,000 dollars rapidly.
The main major movement is expected to be triggered by a strong closing and growth channel on the 1W MA50. If this happens, Bitcoin may be able to reach $ 200,000 beyond $ 150,000.
For investors, the next weeks are critical. Macro developments can be decisive as well as technical data in the market. Nevertheless, it is important that investors are aware of the risks by doing their own research.
