Bitcoin The pair saw renewed upward momentum after the start of the new year, sparking optimism about its upward trajectory in the coming days. As major assets gain momentum, many analysts assert that a long-awaited rally to a new all-time high could be just around the corner.
Leading indicators point to Bitcoin rising into uncharted territory
Amid the growing interest in the market, Mags, a cryptocurrency expert and trader, did just that I searched Bitcoin price movement indicates an upward trajectory for the digital asset. The expert highlighting BTC’s upward trajectory predicted that the asset could rise to the $155,000 mark in the coming months.
Mags’ predictions are consistent with historical price trends and current market dynamics that point to a potential significant rise for BTC yet Decisive breakthrough. These predictions are part of a broader belief that Bitcoin will rise significantly in the ongoing market cycle, as seen in previous scenarios.
Furthermore, the expert highlighted key Fibonacci levels as pivotal factors that could fuel Bitcoin’s path to the ambitious $155,000 price mark. with Increase institutional adoption With the supply of Bitcoin on cryptocurrency exchanges declining, the major asset may attract more strength for its next major move, targeting new heights.
After the rally on Wednesday, the expert noted that Bitcoin saw a rejection at the 1.618 Fibonacci level. This rejection and the current consolidation look very similar to what happened at the 0.618 level.
In this range, BTC also saw rejection and consolidated for a few weeks. After that, the cryptocurrency assets broke out and flipped the 0.618 Fibonacci range inward supportsThis reflects its strong resilience amidst diminishing conditions.
As a result, the analyst is confident that a similar development can occur with the Fibonacci level of 1.618. Once BTC is able to turn the 1.618 Fibonacci mark into support, Mags believes the next major resistance lies near the 2.618 Fibonacci level, which is located around the $155,000 level.
More bullish growth is on the horizon as the BTC bull market continues
With the belief that the ongoing bull cycle is still alive, Bitcoin may be poised for a significant rally in the coming months. Mags has He confirmed BTC’s uptrend is far from over despite recent price fluctuations and mergers, which has sparked uncertainty within the community.
The expert points to past price performance, which suggests that Bitcoin still has room to grow significantly in the current cycle. Specifically, Mags cited trends in which Bitcoin consolidated for weeks before hitting market highs.
If history repeats itself, the expert expects a massive rise in the coming months, reaching a market high between $220,000 and $300,000. Mags forecast reflects Bitcoin’s strong performance during bull markets Investors To stay committed to the bigger picture as crypto assets prepare for an upward trajectory.
Featured image from Unsplash, chart from Tradingview.com
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