Bitcoin Price Trajectory To $155,000: Why No Major Dips Are Expected From Here

3 hours ago

The Bitcoin terms is erstwhile again commanding the spotlight arsenic bullish momentum propels the starring cryptocurrency to new all-time highs. With the terms already breaking past the $122,000 mark, analysts are increasing progressively confident successful the imaginable for adjacent higher targets. A precocious shared illustration investigation by marketplace adept CrediBull Crypto suggests that the existent rally is acold from—and astir importantly, nary large dips are expected on the way. As a result, helium has forecasted that BTC could spot a important terms surge to $155,000 soon. 

Bitcoin Price Action Clears Path To $155,000 

Bitcoin’s momentum continues to stitchery steam, with method indicators from CrediBull Crypto’s question investigation report signals a bullish continuation that could propel the cryptocurrency’s terms to $155,000 successful the coming weeks. The analyst’s caller wave number projection suggests that Bitcoin is firmly successful the mediate of a almighty upward leg, with minimal signs of a pullback ahead. 

CrediBull Crypto’s shared terms illustration highlights a well-formed textbook Elliott Wave structure that suggests that Bitcoin is successful the aboriginal stages of a beardown Wave 3. Notably, BTC’s caller breakout supra the $112,000 range shifted marketplace sentiment successful a bullish direction. What erstwhile served arsenic absorption was rapidly flipped to support, and present terms enactment is clearing a way toward adjacent higher ATH targets arsenic momentum continues to build.

BitcoinSource: CrediBULL Crypto connected X

A captious origin supporting the analyst’s optimistic BTC outlook is the regular request portion betwixt $98,000 and 101,000. This country served arsenic the motorboat constituent for the erstwhile rally supra $112,000 and has remained untested ever since. With selling unit diminishing and spot building, CrediBull Crypto believes that the terms of Bitcoin volition enactment good supra the $110,000 level. 

He besides views a retest to $112,000 oregon a diminution to $110,000 oregon beneath arsenic highly improbable nether existent bullish conditions. According to the analyst, Bitcoin’s projected way guardant places it adjacent $135,000 by the completion of Wave 3, followed by a little play of consolidation earlier a last propulsion toward $155,000. 

Bitcoin Rise Above $120,000 Is Just The Beginning

As Bitcoin continues its ride supra $120,000, Crypto Fella, a marketplace adept connected X, has cited the imaginable for the cryptocurrency to participate terms find mode and skyrocket to uncharted levels. The analyst’s illustration highlights a well-defined ascending trendline opening successful aboriginal 2023, with 3 chiseled rally zones marked by purple rectangles. Each of these phases showcases consolidation followed by an assertive upward move, suggesting a wide signifier of accumulation and breakout. 

The current limb of Bitcoin’s rally appears to reflector this inclination from past bullish cycles but with greater force, hinting that the starring cryptocurrency could beryllium on the verge of a parabolic surge. A cardinal people identified successful Crypto Fella’s investigation sits astir the $138,206 level, which aligns with the projected continuation on the trendline. This level represents the adjacent large intelligence absorption and could people the entranceway into a new signifier of terms discovery.

BitcoinBTC trading astatine $121,720 connected the 1D illustration | Source: BTCUSDT connected Tradingview.com

Featured representation from Pixabay, illustration from Tradingview.com

View source