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A crypto analyst who accurately predicted the price of Bitcoin would rise to an all-time high (ATH) of $99,000 has just released a more detailed analysis of his prediction. The analyst shared a chart highlighting the important points technical indicators and price changes that suggest the cryptocurrency may Preparing for even higher ATH,
The analyst estimates $105,000 as the next price target
TradingView Analyst, Weslad raised His Bitcoin price forecast predicts the next upside target at $105,764 as the crypto market continues to rally. Analyst notes that BTC has officially entered bull market phaseCharacterized by explosive price growth and positive market sentiment.
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his recent Bitcoin price bullish prediction is based on a major technical pattern known as “ascending channelWhich indicates continuation of the bullish trend. This chart pattern consists of two upward sloping trend lines that are drawn parallel to each other, representing resistance and support price levels respectively.
Despite their optimistic outlook btc priceWeslad reveals what investors should expect corrective action Towards the immediate buy-back zone, which will provide an optimal entry point for opportunistic buyers. The analyst also shared a detailed price chart that highlights the bullish rising channel and key price levels that Bitcoin could reach in the short and long term.
Analyst’s Overview of Bitcoin Price Chart Analysis
in my 4 hours bitcoin chartWeslad visualizes the cryptocurrency’s price action within an ascending channel, highlighting that BTC is moving upward within two trendlines. The analyst provided a detailed roadmap for his $105,764 Bullish target for Bitcoin price,
Weslad highlighted the price range between $91,000 and $92,000 as a “critical demand zone,” which works as strong support If BTC declines further, buyers are likely to step in. He also revealed that the price level of $94,327.99 has been identified as an “immediate buy-back zone,” which also serves as an optimal entry point if BTC experiences any downside. corrective pullback In its price.
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The analyst has also highlighted $97,537 as an “immediate profit target”, suggesting that traders may consider locking in profits at this important short-term price level. He also pointed to a “medium-term target” for Bitcoin’s price, highlighting that the mid-term level of $100,334 is important. long position investors,
Finally, Weslad highlighted $105,764 as a “projected final target” for Bitcoin, indicating that this could be the final target for the current market cycle. For BTC to reach this bullish price target, it would only need a modest increase of 6.83% from its current price. While writing, bitcoin price It is trading at $99,072, up 12.73% over the past seven days, according to CoinMarketCap.
Featured image created with Dall.E, chart from tradingview.com
