Charting The Roadmap Of BTC To $150,000 By 2025
cryptocurrency analyst trading shot It has been previously predicted that the Bitcoin price may rise to $150,000 during this bull market. With the flagship cryptocurrency now approaching the $100,000 milestone, analysts have charted Bitcoin’s current price action and provided insights on how the cryptocurrency can reach the $150,000 target by 2025.
Current Bitcoin Price Trend and the Road to $150,000
in a Transaction View PostTradingShot said that Bitcoin price is currently out of the 0.786 to 1.0 Fibonacci range, where it has been consolidating from March to October 2024. Analysts noted that October’s breakthrough was largely due to the U.S. presidential election and post-election excitement. donald trump wins.
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Bitcoin prices have only been out of this range for a month and are already much higher, TradingShot said. He noted that last month’s candle was similar to November 2020 and May 2017. Coincidentally, these periods are “the most radical rally These bull market cycles begin. “
The cryptocurrency stated that between May and December 2017, Bitcoin price was at an angle of 71.5°. In the 2021 cycle, between November 2020 and April 2021, Bitcoin price was at an angle of 68.5° (3° lower). If this happens to be a trend, TradingShot says it’s safe to assume that the 2024/2025 parabolic rally could be at an angle of 65.5° (-3° from the previous cycle).
In line with this, TradingShot said that if the cryptocurrency records a double top cycle like it did in 2021, this would bring the Bitcoin price to a potential target of $300,000 as early as May 2025. Meanwhile, the cryptocurrency analyst claimed, $150,000 goal From a technical analysis perspective, this is “very reasonable” as it is just below the top of the multi-year channel he highlighted on the chart.
BTC’s next move remains unclear
In bullish prediction for Bitcoin price, crypto analysts Kevin Capital It implies that the trend of BTC is still unclear. He said that while Bitcoin has a lot of liquidity, with a downside of about $88,000, most of the real liquidity is still around $100,000 to $103,000. Based on this, analysts say it is best to wait and see.
Meanwhile, cryptocurrency analyst Mikybull Crypto said Bitcoin prices may experience a cooling-off period. At the same time, he revealed that Bitcoin dominance has seen a sell signal for the first time since 2020. Based on this development, he said that officially Altcoin Season.
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Blockchain Center data Showing that it is indeed altcoin season. Over the past 90 days, 75% of the top 50 coins by market capitalization have outperformed the Bitcoin price. Bitcoin may be cooling off as it’s altcoin season, while altcoins are recording a parabolic rally.
According to the data, Bitcoin price is around $95,600 at the time of writing, having fallen in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
