Bitcoin to peak at $155,000 on this date, according expert
Main Idea
Bitcoin's price is showing potential for a significant rally, supported by technical analysis and historical patterns, with experts predicting a possible peak near $155,500 in the coming months.
Key Points
1. Bitcoin rebounded from the 50-week Moving Average on April 7, 2025, signaling a strong rally.
2. Historical data shows Bitcoin surged approximately 106.37% in early 2023 and 197.23% between late 2023 and early 2024 after similar technical signals.
3. Technical analysis suggests a potential peak near $155,500, representing a 30% upside from current levels.
4. Bitcoin faced resistance around $119,400, with a possible short-term pullback to the $116,500-$117,500 range.
5. At the time of reporting, Bitcoin was trading at $118,961, with a 0.7% increase over the last 24 hours and strong uptrend indicators like the 50-day and 200-day SMAs.
Description
As Bitcoin ( BTC ) flirts with reclaiming the $120,000 mark, a trading expert has suggested the asset has more momentum left, potentially propelling it to a record high of $155,000. This outlook is supported by insights from Bitcoin’s weekly chart, which point to a strong rally that began after BTC rebounded from the 50-week Moving Average ( MA ) on April 7, 2025, according to analysis by TradingShot in a TradingView post published July 28. Bitcoin price analysis chart. Source: TradingView The r...
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