Approaching the $300,000 mark, Bitcoin is now in the more aggressive phase of its cycle. A Tradingview member, with a significant following on Tradingshot, recently shared insights into the future price of Bitcoin. Using the Mayer Multiple Average, the analyst examined historical patterns to predict Bitcoin's price movement in relation to its 200-day moving average.

The chart presented by the analyst indicates that Bitcoin is currently in a consolidation phase, having tested and held the Mayer Multiple average. The green arrows highlight the start of the most aggressive part of a bull cycle, citing past instances like July 2013 when breaking the MM average led to a strong rebound.

By applying Fibonacci extensions from the MM average low to the previous high, it was observed that each cycle exceeded the Fibonacci levels. Cycle 1 surpassed the 2.0 level, Cycle 2 reached 4.0, and Cycle 3 doubled to 6.0. Following this trend, Cycle 4 could potentially hit the 8.0 Fibonacci level, indicating significant growth beyond Cycle 3.

While there is always some uncertainty, projecting Cycle 4 to be 2 Fibonacci levels higher than Cycle 3 could lead to the $300,000 prediction. Despite its seeming implausibility, the analyst emphasized the technical accuracy of this approach in predicting Bitcoin's price movements.