In a recent X (formerly Twitter) post, a crypto analyst known as “Sensei” predicted that Bitcoin will soon surge to $72,000. The analyst shared a price chart that highlights two parallel trend lines tracking Bitcoin’s recent price action.

The analyst rooted his optimistic prediction on Bitcoin’s possible bullish surge following the recent market bear trap. Given that Bitcoin plunged more than 20% earlier, many analysts, including Sensei, speculated that this sharp drop could actually be a bear trap.

The crypto analyst said in another X post that Bitcoin is crossing this so-called bear trap, suggesting that the cryptocurrency could reach its target of $72,000 once the bear trap is over.

Furthermore, Sensei revealed that Bitcoin is 24% away from setting a new all-time high in this bullish cycle. This means that the pioneer cryptocurrency is on its way to surpassing its March all-time high, which saw its price surge past $73,000.

In his daily posts on X, the analyst shows strong support for Bitcoin and constantly urges investors to hold their cryptocurrencies in preparation for a potential bullish surge. He predicts that the biggest bull run will begin after the Bitcoin price breaks out between $70,000 and $78,000. Furthermore, he also provides a potential timeline for this massive bull run, predicting that the Bitcoin bull run could begin by the end of August 2024.

While $72,000 may be a short-term price target for Bitcoin, Sensei remains highly bullish on the cryptocurrency’s long-term future prospects, predicting a sharp rise to $150,000.

Despite hopes of a price recovery and subsequent bullish rally, Bitcoin has fallen below $60,000, according to CoinMarketCap. As of writing, the cryptocurrency is trading at $58,773, a massive 4.11% drop over the past 24 hours.

Analysts optimistic about BTC’s future prospects

In the face of falling prices and massive market liquidations, analysts have maintained a positive outlook on Bitcoin’s price, predicting a massive uptrend once the market downturn subsides.

Popular cryptocurrency analyst Michael van de Poppe expects Bitcoin to experience a major bullish breakout after a period of consolidation. The analyst says the market could be on the cusp of a major Bitcoin bull run that could push its price past $250,000.

A cryptocurrency analyst known as “Milkybull Crypto” expressed a similar view, noting that Bitcoin’s price is strengthening after making higher lows on the 3-day chart. The analyst expects the cryptocurrency to witness short-term price consolidation before experiencing an upward trend.