- Next BTC ATH targets set at $116,652 and $165,745.
- Analyst goes on to share technical reasoning behind the new targets.
- He expects Bitcoin price to bounce from a near oversold area.
The price of Bitcoin continues to hover in the $85,000 price range with its current position sat at $84,000.The recent shift in the crypto market that moved sentiments from bearish to bullish led to an immediate price recovery triggered by a stop to Trump’s tariff war. Now, analyst are looking to see where Bitcoin price will go next and sents the next BTC ATH targets at $116,652 and $165,745.
Next BTC ATH Targets Set at $116,653 and $165,745
Bitcoin had a phenomenal pump just a few months after the Bitcoin Halving took place last year. This led to th pioneer crypto asset setting new ATH targets in the last quarter of 2024. A pump that led to exceptional new ATHs upto the $90,000 price range. After a little sideways movement, the price of BTC went on to hit a 6-digit ATH price at $109,000 at the start of the new year setting highly bullish sentiments.
Unfortunately, soon after this 6-digit ATH was set the price of BTC continued to decline significantly leaving the rest of Q1 in brutal red closes. This led to FUD and bearish sentiments taking over the crypto market and soon the most bullish analysts were turning bearish too. A sentiment that almost would not have flipped if Trump didn’t call off the tariff war earlier last week.
To highlight, the crypto market experience a scare in Q2 when Trump declared a tariff war. In retaliation, several countires responded with new tariffs on the USA. This forced Trump to comply and suspend most tariff deflating a slowly escalating global conflict. While trillions was liquidated form the stock adn crypto market during the rising tensions, $4 trillion flew back into the US stock market when the issue came to a halt.
Analyst Shares Technical Reasoning for Next BTC ATH Targets
Meanwhile, the total market cap of crypto went up by $2.5 trillion at the same time. The led to a market flip when sentiments soared back up to bullish expectations. Several bearish analyst turned bullish while other concluded that multiple CME gaps were now fulfilled for BTC and declared that a price pump was inevitable. Furthermore, some analyst said that since Q1 closed in red, considering we are in a bull market, the rest of the year has to close in bullish green.
As we can see from the post above, this reputed crypto analyst says that Bitcoin is continuing to bounce at a significant rate and is bouncing off of a near oversold area on the Wave Trend Oscillator. He marks this as a possible spot for BTC to be nearing the beginning stages of the next wave surge. In conclusion, he declares that the next bull tagrtes for BTC are $116,652 and $165,745.
