Bitcoin has remained uncertain since its decline beginning in March. Following a lengthy consolidation phase in the market, especially concerning BTC, it is now anticipated that the critical resistance level of $70,000 could be breached.
What Are Analysts Saying About Bitcoin’s Price?
Should the upward trend persist, a new record high might be achieved, with analysts forecasting a potential level above $100,000. On May 23, crypto expert TradingShot shared insights, suggesting that Bitcoin could enter a new rally phase post-consolidation, following its halving. This development mirrors significant price patterns from previous Bitcoin cycles, indicating a possible surge towards $150,000.
TradingShot highlighted the consolidation phases occurring two months before and after halving events, a recurring pattern in historical Bitcoin cycles. Such phases are generally seen before substantial price rallies.
How Much Will Bitcoin Be Worth?
Analysis over a two-month period reveals that indicators like the Vortex Indicator (VI) and Commodity Channel Index (CCI) demonstrate symmetry in Bitcoin’s cycles. TradingShot’s findings showed that VI peaks align with the first high low after CCI’s bottom, suggesting a predictable trend in Bitcoin’s price movements.
Consequently, the price could peak by the week of March 17, 2025. Notably, after each consolidation following the BBW bottom, Bitcoin’s initial target was the orange trend line, MMB 3SD, which currently sits at $125,000. The rally could rise to $150,000 upon reaching this point.
Strategic Insights for Investors
- Monitor the Vortex Indicator (VI) and Commodity Channel Index (CCI) for predictable price movements.
- Focus on the two-month period before and after Bitcoin’s halving for potential rally signs.
- Consider the significance of the $125,000 level as an interim target before aiming for $150,000.
- Keep an eye on significant inflows in spot purchases and ETF entries, as these may indicate price trends.
Recently, Bitcoin experienced an upward trend, reaching $71,000 on May 21. This increase paralleled significant inflows in spot purchases and ETF entries. Currently, two primary perspectives dominate the market: some analysts contend that the peak has already been reached, while others argue that the bull run post-halving may just be starting.
