- Bitcoin drives towards $150,000 to $165,000 on a strong upward trajectory.
- Bitcoin must maintain a price above $87,500 to see this bullish rally continue.
- Positive market conditions could swing development in favor of Bitcoin and take it to above $93,615 toward higher targets.
The price movements of bitcoin showed robust developments, with the latest moves targeting a crucial price range of $150,000 to $165,000, as indicated in the latest analysis. In this case, significant price action is denoted by a very big weekly wick, which is indicative of sharp upward movement. By historical patterns, this kind of movement resulted in 50%-100% gains in the past, and it is expected that Bitcoin will pursue an upward course in the coming weeks. Currently, Bitcoin is hovering around $93,615, with the next important resistance zone being between $150,000 and $165,000.
Critical Price Levels and Patterns in the Bullish Move of Bitcoin
The first marked price history of Bitcoin includes the major turning points and the corresponding volume profile. The first major upward swing began in 2022 when Bitcoin found support around $20,000, then broke most resistance levels, and achieved a new upward trend. Bitcoin returned to retest the lower levels at $30,000 before resuming its rally within 2023. At present, price conditions portray Bitcoin trying to breakout from a consolidation that has existed since early 2024, with the actual movement intended for a price target of $150,000 – $165,000. The chart shown for this pattern implies that as long as Bitcoin can uphold support above $87,500, it is in a position to entice the long-term moving rally.
The chart also specifies an ascending green trendline that acts as a lifeline support for Bitcoin. Maintaining above this line will further confirm bullishness and increase the major upper target acquisitions. This green trendline acts as a robust support zone across Bitcoin price action, while its maintenance is essential for bullishness from the rally continuing. Investors, too, now wait to see whether Bitcoin can move above and hold beyond the resistance levels near $87,500, increasing the chances of achieving $150,000.
Bitcoin distance travel ahead: High target resistance level.
The proximity of Bitcoin to the key points of resistance now leaves the market in a positive mood, especially considering the bullish state of affairs around the US crypto market recently. The next step will be determining if Bitcoin could break above the $87,500 range and maintain the persistence above this range. If successful, the bridge would be opened toward the ranges of $150,000 – $165,000. It would also be remiss to ignore the previous price action and volume profile, suggesting the ability of Bitcoin to exceed such levels based on past rallies.
