Analyst Shares Chart and Explains When Bitcoin Will See $150,000!
After the decline in #Bitcoin that started after March, the process seems to still remain uncertain. It is thought that after the long-standing consolidation in the market, and especially in #BTC , the important resistance level of $ 70,000 can be exceeded.
If the upward momentum continues, a new record level may emerge in the market, which analysts predict will probably be above $100,000.
In this process, cryptocurrency expert TradingShot shared a post on May 23 and expressed its opinions. He added that it is estimated that #Bitcoin will enter a new rally phase after a post-halving period of consolidation. The development is consistent with the price movements noted in previous Bitcoin cycles and reveals that there may be a potential increase towards $ 150,000.
TradingShot highlighted the consolidation phase that occurs in the two-month period before and after the halving event, a pattern that has emerged in past Bitcoin cycles. He stated that this process has always been seen in the market so far. The mentioned consolidation phase is generally known to occur before a significant rally in the #Bitcoin price.
In the two-month time frame analysis, the Vortex Indicator (VI) and Commodity Channel Index ( #CCI ) also draw attention to the symmetry that emerges in Bitcoin's cycles. Analysis by TradingShot showed that the VI highs coincide with the first higher low of the CCI after the bottom, indicating a predictable pattern in Bitcoin's price movements.
As a result, we can expect the price to peak in the week of March 17, 2025 at the earliest. <…> Perhaps the most important part is after each consolidation after the BBW bottom. Bitcoin's first target was the orange trend line, MMB 3SD. It is currently at $125,000 but could approach $150,000 once the rally reaches that.
