As a seasoned crypto investor with a keen eye for technical analysis and a knack for spotting trends, I find Gert van Lagen’s latest prediction intriguing. Having witnessed Bitcoin’s tumultuous journey from its inception to becoming a household name, I can’t help but be captivated by the prospect of a potential 472% surge in price within a year.
According to renowned technical expert Gert van Lagen, it’s likely that the value of Bitcoin (BTC) could potentially increase by approximately 472% within the next twelve months.
In his recent update, the trader describes how the primary cryptocurrency appears to be exhibiting a staircase-like structure. This pattern is marked by periods of price stabilization followed by uptrends, much like the progression of steps in an upward trajectory.
In the current structure, resembling the well-known “cup with handle” bull pattern, van Lagen identifies an ascending broadening wedge at what appears to be its pre-breakout phase. This technical configuration is worth keeping an eye on because it tends to break upward approximately 79% of the time, as suggested by van Lagen, and around 67% of the time, it signals a continuation of the previous trend.
Over the past week, I’ve noticed that Bitcoin has been shaping an ascending broadening wedge on Base 4. Historically, such formations break to the upward direction about 79% of the time. This pattern is typically a continuation of the existing trend, which happens to be upwards 67% of the time. If this wedge breaks as expected, I’m looking at a potential target zone around $300k at the sell line.
— Gert van Lagen (@GertvanLagen) September 23, 2024
According to the analysis, the trader predicts that Bitcoin could reach an astounding $300,000 per BTC, a massive 472.44% jump from its current value. This forecast underscores the significant growth potential, aligning with van Lagen’s bullish perspective on the future of cryptocurrency.
Over the recent short period, I’ve noticed that Bitcoin’s price has been sticking around $63,500 per BTC for nearly four days now. It’s intriguing because this range seems to align with my 200-day simple moving average, a crucial technical marker that often serves as a formidable resistance level in the crypto market.
Keeping an eye on Bitcoin’s performance is crucial since it’s currently finding it tough to surpass the current moving average. It’s important to stay alert for any indications of a potential breakout beyond this point, following which it might exit the channel pattern.
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2024-09-24 16:05