After one uninspiring start By June, Bitcoin Investors have been left and wonders what is next for the world’s largest Cryptocurrency. Interestingly, crypto analysts have always been a guiding light when there is uncertainty about the Cryptocurrency premiere. As such, a prominent marketing expert has emerged with an exciting projection for the Bitcoin Prize.
How Bitcoin -Price can run up to $ 150,000
In a recent X -platform post, chartered marketing technician Tony Severino Post An interesting analysis of the Bitcoin price. According to the Crypto Market Expert, the price of BTC could travel as high as the $ 150,000 mark in its next Hauss phase.
The reasoning behind this raised projection is the formation of a bull flag pattern on the daily time frame for the Bitcoin Prize diagram. The bull flag is a technical analysis pattern characterized by a period of steep motion upwards (the flagpole), which is usually followed by sideways or slightly downward price measure.
The bull flag is usually considered a prevailing continuation pattern for an existing trend upwards, suggesting a potential transition to a higher price point. However, it is crucial to wait for a successful interruption from the consolidation before determining that the price will continue in its upward track.
Source: @TonyTheBullCMT on X
According to Severino, the Bitcoin Prize may very well be on its way to a new All-Time High if this bull flag is valid and the price successfully breaks out of the pattern. The goal of this diagram pattern is usually determined by adding the vertical height of the flagpole to the potential breakout point from the flag.
What other indicators say
Severino marked Another indicator and explained what it is currently saying for Bitcoin’s next leg up. For example, the Krypto expert mentioned that the Bollinger bands press, which means that although there is currently low market vollatility, a significant price movement can be on the horizon.
Severino also mentioned that the Bitcoin price failed to reach the lower band for the Bollinger Band indicator, which may be a “main prisoner” before the flagship Cryptocurrency goes into a new upward driving. Investors may, however, want to watch out for an end to the level of $ 111,000 on the daily time frame to confirm a Potentially maintained trend.
A close below the lower band, which sits just under the $ 101,000 mark, can suggest the disadvantage of the Bitcoin price. From this writing, the price of BTC stands over $ 105,000, which reflects an almost 2% increase over the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Image from iStock, chart from tradingview
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