Bitcoin price aims to reach $150,000 – $170,000 with wave formation, here are the details
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Bitcoin price has shown a bullish pattern that could see it rise to between $150,000 and $170,000. Cryptographic analyzer Geert van Lagen He revealed how this could happen and what could happen after this rise in prices.
Bitcoin price rises to $170,000 after wave formation
Bitcoin price is set to rise to $170,000 after the wave formation. in Share XGert van Lagen revealed that Bitcoin has confirmed the fifth explosive wave within the range of $150,000 and $180,000 by recently reaching a new high. All time high (ATH) Valued at $109,000. Following this development, the analyst stated that the major cryptocurrency now aims to reach between $150,000 and $170,000.
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Once Bitcoin price rises to between $150,000 and $170,000, Gert Van Lagen predicts that a rebound to as low as $120,000 will follow, with calls for a top. However, a rise to $170,000 will not mark a significant milestone Top of the course For major cryptocurrencies as an analyst, there will be another parabolic rise in the uptrend, which will be wave v to complete the fifth wave.
Gert van Lagen predicts that the price of Bitcoin will rise to $300,000 in the final phase of this cycle, which will end the bull market. The accompanying chart showed that BTC could reach this price target by April. This is not the first time that an analyst has predicted that the value of the major cryptocurrency will rise to $300,000. It was previously highlighted by A Cup and handle styleputting BTC’s final bull run at this target price.
BTC’s rise to $158,000 is still in play
Cryptographic analyzer Titan encryption He also provided a bullish outlook for Bitcoin price, noting that the expected rise to the $158,000 target remains valid. This target came when it highlighted the formation of a bullish pennant on the monthly time frame for BTC. The analyst noted that Bitcoin could shoot to the moon if this bullish pattern occurs.
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Meanwhile, in another post This was based on Ichimoku cloud analysis, which indicated that the cloud was trending upward.
Amid these bullish forecasts for Bitcoin price, cryptocurrency analyst Justin Bennett He warned that the major cryptocurrency could fall to a low of $91,000. He noted that Bitcoin was pumped into Trump’s inauguration, so there’s a good chance the rally will fade from here. The analyst added that BTC is range-bound until proven otherwise and that the lower wick on January 13 at $91,000 looks ready for a retest.
At the time of writing, Bitcoin is trading at around $105,402, up more than 3% over the past 24 hours, according to Data From Coin Market Cap.
Featured image from Unsplash, chart from Tradingview.com
