crypto analyst Tara has highlighted a bullish pattern that recently formed on the bitcoin chart. He also revealed how high the flagship cryptocurrency could rise in its next upward leg. Furthermore, his analysis suggested that bitcoin may be about to enter the parabolic phase of bitcoin-bull-market-glassnode/” rel=”nofollow”>this market cycle.
“Major momentum” advances on bitcoin's horizon
Tara mentioned in an x (formerly twitter) x.com/PrecisionTrade3/status/1797258960258351261″ rel=”nofollow”>mail who believes that bitcoin is about to make a major momentum move that will send its price to $75,800, which represents a bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>all-time new (ATH) for the crypto token. He made this comment while revealing that “the full ABCDE on prices and RSI has been completed.”
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According to her, bitcoin has just broken the resistance in the bitcoin-price-suffers-sharp-decline/” rel=”nofollow”>Relative Strength Index (RSI) and has completed the new test of the breakout level at $67,800. This development is significant as it suggests that bitcoin could soon enter the market. parabolic phase of this cycle. crypto Analyst Rekt Capital recently claimed that bitcoin is one breakout away from entering this phase, while highlighting the $70,000 range as the level to overcome.
Cryptoanalyst Michael van de Poppe He also highlighted $70,000 as the price level that btc needs to surpass to reach a new ATH. Meanwhile, if bitcoin hits $75,800 as Tara predicts, that would mean the flagship cryptocurrency has entered the “escape velocity phase,” which could set it up for further bullish moves.
bitcoin-block-800000-mined-btc-epic-achievements/” rel=”nofollow”>Cryptanalyst James Check (also known as checkmate) bitcoin-rally-is-far-from-over-2/#:~:text=This%20suggests%20that%20the%20crypto,is%20a%20%E2%80%9Cgood%20thing.%E2%80%9D” rel=”nofollow”>reclaimed that bitcoin could reach this escape velocity phase shift at $73,000. Additionally, btc hitting this new ATH is also significant as it could push the flagship cryptocurrency up to $100,000 during this uptrend.
crypto Analyst crypto Jebb mentioned that there is a “high degree of probability” that bitcoin will rise to the $100,000 price mark if it surpasses its current ATH of $73,800. Curiously, he made this observation while highlighting a bitcoin/” rel=”nofollow”>reverse heads and shoulders pattern that could send the price of bitcoin to $75,000.
btc heads to $85,000 in next leg up
crypto Analyst Mikybull crypto has also offered a bullish narrative for bitcoin, x.com/MikybullCrypto/status/1797279409671413857″ rel=”nofollow”>indicating that a megaphone pattern has formed on the btc chart and has a price target of $85,000. He also added that this breakup will happen soon. Until now, the analyst highlighted a bitcoin-broadening-wedge-formation-indicates-crash-below-30000/” rel=”nofollow”>widened wedge that had formed on the daily btc chart and commented that “the breakout is closer than you think.”
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Meanwhile, crypto analyst Ali Martínez He also outlined how btc could soon rise to $79,600. He stated that bitcoin is currently hovering around the +0.5σ price band. at $66,800 and that the flagship cryptocurrency will likely test the 1.0σ price band at $79,600 if it can hold above this level.
