- Bitcoin analysts share their predictions as BTC continues its sideways movement.
- One marks $90,000 as parabolic trend high.
- Another says #159,128 will be the cycle top in 2025.
Bitcoin (BTC) price chart just printed an interesting pattern that catches the eye of one particular Bitcoin enthusiast. According to this trader, he marks that the latest bounce off of the parabolic trend line is a splitting image to that of the weekly chart.
Read CRYPTONEWSLAND on
google news
More importantly this pattern created by the asset’s price action marks what he expects to be the start of an incredible BTC price pump. He takes the textbook parabolic trend diagram. The chart patterns printed bring us to phase 4 of the diagram.
He then highlights the major push up that will likely take place. While he marks that this push up will take Bitcoin (BTC) price to $90,000, he also marks that this will only be the top trend price, and not the cycle peak price.
Which means that once the parabolic trend high is set, the price of Bitcoin (BTC) will experience another dip for corrections as maintaining that price will not be sustainable. So, after hitting a price near $90,000 there will likely be some dips and sideways movements.
However, the completion of that sideways traction will then later push the price of Bitcoin (BTC) to what will likely be its cycle top going into 2025. Thus, the trader goes on to say that there is no reason the parabolic trend line will likely continue to play out as it always has in every cycle and has never failed to deliver.
As for the cycle top price, another technical analyst shares his take on where the Bitcoin (BTC) price will make its next all-time high (ATH). To do this, he says he will use the simple fibonacci extension to determine this value.
Thus, he takes the cycle retraces shown from which the first two cycles came very close to the 2.618 extension and the last cycle hit the 1.618. Accordingly, if it hits the 1.618 again then the cycle top price for Bitcoin (BTC) will likely be $159,128.
He also remarks that this price is only one out of many baskets of possibilities and could also be considered an optimistic expectation for this cycle. Certainly, the outlook for Bitcoin (BTC) price is a bullish one and the crypto community waits eagerly to see how the cycle will play out amidst the oncoming golden bull run.
Read Also
disclaimer read moreCrypto News Land (cryptonewsland.com)
