Bitcoin (BTC) has sparked a strong technical signal that could push the leading digital currency to $ 170,000, based on historical returns.
Specifically, BTC flashing a “signal signal signal”, a rare occurrence that has been constantly distinguished in long -term bottoms in the Bitcoin price cycle, according to an analysis conducted by a prominent online cryptocurrency analyst online Tradingshot.
This signal depends on the BTC/Vix ratio, which compares the work of the bitcoin with the volatile index (VIX), which measures fear in the market.
In x mail On April 15, the analyst indicated that the ratio had directly contacted the 10 -year -old direction line, which was a bitcoin launch platform on multiple occasions.
Similar touches occurred on August 24, 2015, March 16, 2020 and August 5, 2024. Each of these cases was followed by aggressive marches, with “weakest” still producing an impressive gain of approximately 100 %.
Every time this percentage rises from the trend line, Bitcoin follows with a significant increase.
The next possible bitcoin stopped
Looking at this historical context, Tradingshot I suggest that a similar step can see Bitcoin up to at least $ 150,000 as its next main progress.
Although there is no technical signal that guarantees future results, the consistency of this pattern provides a convincing case of momentum, especially as bitcoin is trading without its highest levels ever.
It is worth noting that after days of monotheism, Bitcoin currently shows a short -term power after restoring the resistance level of $ 85,000.
However, the overall feelings are still defeated, as market monitors indicated that in order for the original to take any decisive step, it needs to violate the mark of $ 90,000.
At the same time, according to Finbold, another analyst warns that the short -term Bitcoin is also at risk of retreating in the short term after flashing a sale signal based on the serial TD index on the time frame for an hour and 4 hours, making a decrease to 75,000 dollars a potential possibility.
Bitcoin price analysis
At the time of the press, Bitcoin has been trading at $ 85,680, an increase of 1.4 % in the past 24 hours. On the weekly graph, the original rose more than 7 %.
Since things are standing, Bitcoin feelings can be considered neutral in favor of ascending in the short term, and at the current price, the original is traded slightly higher than the simple moving average for 50 days (SMA) of $ 84,902 but less than 200 days SMA of $ 86,714. The relative strength index is 14 days (RSI) 52, indicating that there are no conditions or excessive sale.
Distinctive image via Shutterstock
