Bitcoin has been in a state of uncertainty since the decline that began in March. There has been a prolonged consolidation phase in the market, particularly regarding BTC, indicating a potential breach of the critical resistance level of $70,000.
Insights on Bitcoin's Price
If the upward trend continues, analysts predict a new record high with a potential level exceeding $100,000. Crypto expert TradingShot recently suggested that Bitcoin could initiate a new rally phase after consolidation, similar to previous cycles, possibly surging towards $150,000.
TradingShot emphasized the consolidation phases before and after halving events, a recurring pattern in Bitcoin's historical cycles, typically preceding significant price rallies.
Bitcoin's Future Value
Analysis over a two-month period reveals symmetrical trends in Bitcoin cycles indicated by indicators like the Vortex Indicator (VI) and Commodity Channel Index (CCI). TradingShot's analysis suggests a possible peak by the week of March 17, 2025, with an interim target at $125,000 before potentially reaching $150,000.
Investment Strategies
- Monitor VI and CCI for predictable price movements.
- Focus on pre and post-halving periods for rally indicators.
- Note the importance of the $125,000 level as a milestone before aiming for $150,000.
- Watch for significant inflows in spot purchases and ETF entries for price trend insights.
Bitcoin recently hit $71,000 on May 21 during an upward trend, reflecting substantial inflows in spot purchases and ETF entries. Market sentiment is divided into two primary views: some believe the peak has passed, while others suggest that the post-halving bull run is just commencing.
