As a seasoned analyst with years of experience dissecting market trends and patterns, I find TradingShot’s analysis on Bitcoin‘s price recovery to $150,000 intriguing. His use of Fibonacci levels and channels provides a structured approach to understanding potential future movements in the cryptocurrency market.
According to Crypto expert TradingShot, he’s shared his thoughts on the potential Bitcoin price surge to $150,000. By examining Fibonacci levels, he offers a glimpse into how this record high might be achieved. However, it’s important to note that further price adjustments could occur prior to this predicted rise.
The Bitcoin Price Recovery To $150,000
In a recent TradingView post, TradingShot predicted that Bitcoin’s price is moving towards a new peak due to its current position in phase 3 of the bull market cycle. This anticipated peak may materialize at around $150,000, which represents two significant technical extensions: a -0.5 horizontal Fibonacci extension and a 2.0 Channel Fibonacci extension.
A cryptocurrency expert mentioned stages 1 and 2 in the Bitcoin price surge cycle, pointing out that they initiated a lengthy accumulation period that could see a further dip to the 0.382 Fibonacci level. Similarly, TradingShot suggested a potential 100% increase, reaching a possible peak of $200,000 as phase 3 nears its end.
According to the analyst’s chart, the price of Bitcoin might reach $200,000 in the range of October 2026 to December 2026. This forecast is consistent with Standard Chartered’s expectation that the price could achieve this level by the end of 2025. Furthermore, TradingShot offers additional details about the current Bitcoin market trends.
The analyst revealed that the Bitcoin price has touched its 1-day 50 moving average (MA) for the first time in over 2 months and is now rebounding. He added that the first presence of short-term buyers was actually felt last week when Bitcoin came close to the 50 MA again and rebounded aggressively. This is said to be a natural technical reaction during such aggressive uptrends.
According to TradingShot’s analysis, a crucial level of support during Bitcoin’s upward trends is typically the 50-moving average over one week. This level has been serving as a point of support since March 2023 and was validated twice, on August 5 and September 6. The latter test in particular marked the beginning of the current bullish phase for Bitcoin’s price.
Further Analysis of the Fibonacci Channel Up
In his latest analysis, TradingShot points out that the current uptrend in Bitcoin’s price can be technically classified as part of a Fibonacci Channel Up. This trend has been ongoing since the lowest point of the last bear market on November 21, 2021, and it seems to be holding steady now.
During the first stage of the bull market, the price of Bitcoin was typically found between two key Fibonacci levels, specifically from 0.0 to 1.0. As we moved into phase 2, the price fluctuated within a broader range, encompassing levels from 0.5 to 1.5. According to TradingShot’s prediction for phase 3, the Bitcoin price is expected to trade between Fibonacci levels of 1.0 and 2.0.
The analyst pointed out a notable pattern with sequences, legs, and pullbacks that share a lot of symmetry. He emphasized that the most striking aspect is how previous rallies have often led to a significant 100% increase in value. More specifically, TradingShot drew attention to two instances – the over 100% rallies on April 14, 2023, and January 11, 2024. Subsequently, the Bitcoin price dipped towards the 0.382 Fibonacci retracement level, implying a potential repeat of this pattern in phase 3.
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2024-12-24 18:41