Bitcoin Price At $321,000 This Cycle? Analyst Says It’s The ‘Math’
cryptocurrency analyst Tony Severino gave an extremely optimistic outlook on Bitcoin price, predicting that the flagship cryptocurrency could rise to $321,000. The analyst acknowledged that the target was too high for BTC, but added that it was just “mathematics.”
Bitcoin price will reach $321,000 during this market cycle
in a substack postsTony Severino predicts that Bitcoin price could rise to $321,000 during this bull run. Analysts highlight the potential head and shoulders pattern This is already forming on Bitcoin’s charts. The analyst claims that if this bullish pattern holds, then it expects a maximum target of $321,000 per BTC.
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Severino acknowledged that the Bitcoin price target was too high, but said it was just “mathematics.” Interestingly, the cryptocurrency analyst went on to make a higher price prediction for the flagship cryptocurrency based on another bullish pattern. He said that if Bitcoin hits a price ceiling, it could reach $345,000. main ascending channel Last 8 years or so.
At the same time, Severino also provided a more conservative target for Bitcoin price. Analysts predict that BTC may hit at least $158,000. That’s because he pointed to a 2021 cycle peak Inverse Fibonacci Extension The peak of the cycle can be predicted in 2025. If so, he stated that this peak inverse Fibonacci extension is located at one of the lowest estimates for BTC, which is $158,000.
The cryptocurrency analyst further said that another way to use the 1.618 Fib extension is to predict the target of the Wave 3 peak from the Wave 1 bottom. Based on that, he added, it would require a potential target of $194,000.
Severino provided another version, predicting 1.618 Fib extending from the top of wavelet iii of 5 to the bottom of wavelet i of 5. If this happens, BTC could reach a slightly lower target of $186,000. Finally, the cryptocurrency analyst also raised the possibility of Bitcoin price peaking at $191,000. He emphasized a bull market patternif valid, BTC can be sent to that destination.
Bitcoin’s short-term price trend
cryptocurrency analyst Ali Martinez Provides insights into Bitcoin’s short-term price action. He said in an X post that Bitcoin’s key support level is $97,877, a level where more than 101,000 BTC have accumulated. The analyst further stated that staying above this level is crucial to sustain the bullish momentum of the flagship cryptocurrency.
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In another X post, a cryptocurrency analyst gave a bullish outlook on Bitcoin price. He pointed out that the quantity Bitcoin trading Over $100,000 has doubled in the past week, rising from $15,620 to $32,320.
According to statistics, as of this writing, Bitcoin price is about $104,300, down nearly 1% in the past 24 hours data From CoinMarketCap.
Featured images from Unsplash, charts from Tradingview.com
