Crypto analyst Tara has recently pointed out a bullish pattern on the Bitcoin chart, indicating a potential major impulse move that could send the flagship crypto to a new all-time high of $75,800. This analysis is based on the completion of a full ABCDE on both price and the Relative Strength Index (RSI), with Bitcoin breaking out of resistance and completing a retest at $67,800.
The completion of these patterns suggests that Bitcoin may be gearing up to enter the parabolic phase of the current market cycle. Other analysts, such as Rekt Capital and Michael van de Poppe, have also identified key levels, with $70,000 being the critical range to beat for Bitcoin to enter this phase. Breaking through to $75,800 could signify the flagship crypto entering the “escape velocity phase,” potentially paving the way for further upward movement.
Analyst James Check believes that Bitcoin could achieve this phase shift at $73,000, while Crypto Jebb sees a high probability of the crypto rallying to $100,000 if it surpasses its current all-time high. Similarly, Mikybull Crypto has identified a megaphone pattern with a price target of $85,000, further adding to the bullish sentiment surrounding Bitcoin. Ali Martinez also chimed in, forecasting a potential rise to $79,600 in the near future.
The collective analysis from various crypto analysts paints a positive picture for Bitcoin’s price trajectory in the coming days and weeks. With key resistance levels being breached and bullish patterns emerging on the chart, there is growing optimism about the flagship cryptocurrency’s potential for significant growth. As always, market conditions can change rapidly, so it will be essential to monitor Bitcoin’s price movement closely to see if these predictions come to fruition.
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