The crypto market has been buzzing with excitement as multiple analysts are predicting a bullish future for Bitcoin. One analyst, Tara, recently highlighted a bullish pattern on the Bitcoin chart and suggested that the flagship crypto could rise to $75,800 on its next leg up. According to Tara, Bitcoin has completed a full ABCDE on both price and RSI, signaling a potential major impulse move.
Tara’s analysis also hinted at Bitcoin possibly entering the parabolic phase of the market cycle. With Bitcoin breaking out of resistance on the Relative Strength Index (RSI) and completing a retest at $67,800, the stage seems to be set for a potential upward surge. Other analysts such as Rekt Capital and Michael van de Poppe have also pointed to the $70,000 range as a crucial level for Bitcoin to beat in order to enter this phase.
Should Bitcoin reach $75,800 as predicted by Tara, it could signify the flagship crypto entering the “escape velocity phase.” This phase, as described by analyst James Check, could set Bitcoin up for further moves to the upside, potentially reaching as high as $100,000. Crypto analyst Crypto Jebb also echoed similar sentiments, suggesting that breaking the current ATH of $73,800 could propel Bitcoin to the $100,000 price mark.
Other analysts like Crypto Jebb and Mikybull Crypto have also offered their bullish narratives for Bitcoin. Crypto Jebb mentioned an inverse head and shoulders pattern that could push Bitcoin to $75,000, while Mikybull Crypto pointed to a megaphone pattern with a price target of $85,000. Both analysts anticipate a breakout happening in the near future, further fueling the optimism surrounding Bitcoin’s potential price surge.
With various analysts predicting significant highs for Bitcoin in the near future, the crypto market is brimming with anticipation. The potential for Bitcoin to reach new all-time highs and potentially surpass the $100,000 mark has garnered attention from investors and enthusiasts alike. As the market dynamics continue to evolve, it will be interesting to see if Bitcoin can fulfill the bullish predictions laid out by these analysts.
Leave a Reply