The price of Bitcoin has broken above $91,000 today, continuing its bullish run. This is good news for the crypto market, as the positive sentiment that follows affects other cryptocurrencies.
Top analysts have also been making various bullish predictions about Bitcoin. with many believing it will reach $100,000. Crypto analyst Alli has a much higher target, suggesting that the price of BTC may go above $200,000.
Break Out from Cup and Handle Pattern
According to Alli, the price action of Bitcoin shows a classic cup-and-handle pattern. This is traditionally seen as a bullish signal in technical analysis. This pattern consists of a rounded bottom, which began forming in late 2022 and reached its lowest point in early 2023.
Following this low, Bitcoin’s price has been on an upward trend, completing the right side of the cup. The handle took shape around the $65,000 mark, where the price broke out.
With the price currently trading at around $92,000, the first significant resistance level is at approximately $154,699, identified by the 1.618 Fibonacci extension.
Read Also: Here’s Why This Analyst Expects SUI Price to Hit $4
Beyond that, a more ambitious target of around $384,067 is indicated by the 2.272 extension. However, Alli’s target of $255,000 appears more moderate, positioned between these levels.
Robinhood Listing SOL, PEPE, and Some Other Crypto
In related news, Robinhood has expanded its cryptocurrency offerings. The firm is adding Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP (XRP) to its U.S. trading platform. This brings its total crypto offerings to 19 digital assets.
JUST IN: Robinhood to list $PEPE, Solana $SOL, Cardano $ADA, and $XRP.
— Watcher.Guru (@WatcherGuru) November 13, 2024
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, mentioned that the platform is aiming to increase access to crypto.
He said the company is expanding its digital asset offerings to meet customer needs. This will make financial services more accessible to previously excluded groups.
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Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
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