This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done
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The cryptocurrency analyst who accurately predicted Bitcoin’s price would surge to an all-time high of $99,000 (ATH) has released a more detailed analysis of his forecast. The analyst shared a chart highlighting the crucial issues Technical indicators And price movements that indicate the potential for a cryptocurrency Prepare for a higher ATH.
The analyst expects the next price target to be $105,000
Weslade, a TradingView analyst, said He grew up His Bitcoin price forecast, anticipating the next upside target at $105,764 as the cryptocurrency market’s uptrend gains momentum. The analyst reported that BTC has officially entered Bull market phasewhich is characterized by massive price increases and positive market sentiment.
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His last Bullish Bitcoin price prediction It is based on a major artistic style known as “Rising channel“, indicating a continuation of the uptrend. This chart pattern consists of two upward sloping trend lines drawn parallel to each other, representing resistance and support price levels, respectively.
Despite his optimistic view of the team Bitcoin priceWeslade revealed that investors should expect a… Corrective action Towards a direct repo zone, which would provide an ideal entry point for opportunistic buyers. The analyst also shared a detailed price chart highlighting the bullish ascending channel and key price levels that Bitcoin could reach in the short and long term.
Bitcoin price chart analysis overview for analyst
In his 4 hours Bitcoin chartWeslade visualizes the cryptocurrency’s price movement within an upward channel, highlighting that Bitcoin is moving upward within two trend lines. The analyst provided a detailed roadmap for his $105,764 tally Bitcoin price upside target.
Weslade highlighted the price range between $91,000 and $92,000 as an “important demand area,” which acts as a… Strong support Buyers are likely to intervene if Bitcoin declines further. He also revealed that the price level at $94,327.99 has been identified as an “immediate rebuy zone,” which also serves as an ideal entry point if BTC experiences anything. Corrective pullback In its price.
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The analyst also highlighted $97,537 as an “immediate profit target,” suggesting that traders may consider taking profits at this critical price level in the short term. He also set a “medium-term target” for the Bitcoin price, highlighting that the mid-term level of $100,334 is important for the Bitcoin price. Investors who hold longer positions.
Finally, Weslade highlighted $105,764 as the “expected ultimate target” for Bitcoin, suggesting that this could be the ultimate target for the current market cycle. For BTC to reach this bullish target price, it would require a modest increase of only 6.83% from its current value. As of writing, Bitcoin price It is trading at $99,072, representing a 12.73% increase over the past seven days, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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