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Crypto -analysts Cobravanguard has revealed that the Bitcoin price has entered an increasing phase after a cup and formation at the level of $ 105,000. Based on this bullish pattern, the analyst emphasized the price target that BTC could reach if he enters this rising phase.
Bitcoin price can collect up to $ 123,000 if the rising phase enters
In one TradingView -messagePredicted Cobravanguard that the Bitcoin price could collect up to $ 123,000 if it enters the rising phase through the cup and handling the pattern. According to the analyst, BTC is in a large cup and handle, and if it follows this pattern, the price will have a nice rally. His accompanying graph showed that the flagship Crypto de $ 123,000 price target.
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The analyst also revealed his gold analysis for the Bitcoin price, in which he revealed that the flagship could collect Crypto as high as $ 260,000 In this market cycle. His corresponding graph emphasized an increasing channel, which showed that BTC could hit this goal if it reached the upper part of the channel.
Interestingly, other crypto analysts have delivered higher goals for the Bitcoin price in this market cycle. Crypto analyst Tony Severino recently predicted That BTC could be as high as $ 321,000 in this cycle. He emphasized a potential head and shoulder pattern on the graph of BTC and stated that the flagship Crypto could achieve this goal if the pattern was valid.
He also increased the possibility that the Bitcoin price would gather up to $ 345,000. Severino explained that BTC could reach this ambitious price target if it affects the upper limit of the primary uptrend channel in the past eight years or with it. In the meantime, he predicted for his more conservative goals that the price of Bitcoin in this market cycle could achieve between $ 158,000 and $ 191,000.
Why BTC has not yet reached its market top
In the midst of the Bearish signals that indicate a market top, crypto analyst Ali Martinez Various reasons explained why the Bitcoin price still has more room to grow in this bull run. Firstly, he noted that cycle shifts usually occur when BTC 2.4x exceeds the 200-day simple advancing average (SMA), which is currently at $ 184,600.
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Moreover, Martinez stated that the Mayer Multiple suggests that the Bitcoin price has more upside down, with a potential market with around $ 182,000. From a technical perspective, the crypto analyst emphasized Bitcoin’s Cup-and-Handle Breakout, which points to a target of $ 276,400. Finally, he referred to the halving cycles theory, which suggests that BTC could reach a market top between May and October 2025.
At the time of writing, the Bitcoin price acts at around $ 104,700, according to almost 1% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Istock, graph of TradingView.com