The cryptocurrency trading expert suggested that Bitcoin (BTC) may be on the verge of achieving a new record maximum of $ 150,000 in the coming weeks, based on a bull -free model resembling past record ralles.
This optimistic forecast follows the restoration of the bitcoin mark of $ 99,000 on weekends, which corresponds to a 50-day sliding medium (MA), which currently serves as a critical level of support, according to data Tradingshot V Trading Post from January 6th.
The popular online trading expert compared the current Bitcoin movements with its price action in early 2024. Then a similar recovery of the 50-day MA preceded the rally, which pushed the cryptocurrency to the record level above $ 73,000.
The current model, which corresponds to the technical indicators, such as the relative force index (RSI) and the convergence and discrepancy between the sliding medium (MACD), suggests that another large rally occurs.
In both cases, a one -day RSI showed a bear’s divergence with lower maximums, signaling potential changes in the impulse, while the MACD formed a bull intestion below 0.00. This combination indicates the transition from a bear pulse to bull, while the MACD intersection is widely considered as a strong purchase signal.
According to a similar scenario, during the cycle of 2023-2024, the second Bitcoin rally reached a maximum at the level of Fibonacci’s expansion 1.618 from the minimum of September 2023. If the current trend follows this example, the target price of $ 150,000 will be achievable.
“The second rally reached a peak at the expansion of Fibonacci 1.618 from the minimum on September 11, 2023, therefore, if the repetition of the model continues, we can see the peak above 150 thousand,” the expert said.
Bear case of Bitcoin
Despite the bull attitude, the expert warned that Bitcoin could bargain in the lateral direction for several more days before entering the second phase of the rally.
Indeed, after Bitcoin exceeded $ 100,000, the target of $ 150,000 remains possible, supported by optimism after the victory of Donald Trump in the elections, which is expected to be optimistic for cryptocurrencies.
The goal coincides with the aim established by the banking giant Standard Chartered, which predicts that by the end of 2025 Bitcoin can reach $ 200,000.
In accordance with Tradingshot’s The forecast of the expected side trading of bitcoins, another forecast of the famous cryptocurrency analyst Ali Martinese warns that Bitcoin can fall to a level of $ 78,000 before starting the rally.
According to Martinez, the price of Bitcoin demonstrates the signs of the potential model “head and shoulders”, signaling the possible correction to the range of $ 78,000. The neckline is at the level of $ 96,000, and a breakdown below this level can confirm this model.
However, he noted that if Bitcoin remains at about 97,000 dollars, the closure above $ 100,000 can negate a bear installation and strengthen the further bull impulse.
Bitcoin’s volatility has reached a historical minimum
Meanwhile, against the background of these forecasts, Bitcoin demonstrates signs of stability. The data that the cryptocurrency analyst Miles Doycher shared in post X dated January 6, it is noted that the leading digital currency experiences historically low volatility, almost three times lower than during the bull rally of 2021.
Since cryptocurrency fluctuates around $ 100,000, this compressed volatility creates expectation, since such periods of low price movement often precede a significant price action, suggesting that a breakthrough, up or down, can be inevitable.
Bitcoin prices analysis
At the time of publication, Bitcoin traded at $ 99,267, rising by about 1.5% over the past 24 hours. On a weekly schedule, BTC has increased by more than 5%.
Despite the relative stability, the price of Bitcoin still ranges at critical levels with key points of support and resistance of about 96,000 and $ 100,000. A breakthrough above $ 100,000 can push cryptocurrency to new maximums, and the inability to maintain support can provoke a correction.
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