With the last rally to a new record above $ 125,700, the Bitcoin price seems to have taken a new path that could lead to several new record highs. At the moment the market sentiment has become positive again, and this continues to be reflected in the way in which the price remained above $ 120,000 despite the corrective dips. Crypto analyst Credibull Crypto believes that this means that the Bitcoin price is on its way to $ 150,000, so this report looks at the breakdown.
Why the Bitcoin price is on its way to $ 150,000 and what the best time is to buy
In the analysis it was so shared With more than 478,000 followers on the X platform (formerly Twitter), Credibull Crypto emphasizes the recent step, making the Bitcoin prize a new record ever reached. According to the analyst, the fact that it was an impulse movement that led to this all-time High Bullish and shows this The cryptocurrency is ready for the next step That will lead it to $ 150,000.
Related reading
There were of course recovery when the Bitcoin price tested the $ 121,000-$ 122,000 zone. However, the price has held up, and above all, it is well above $ 108,400, which was the start of the impulse wave. Given that this level was the soil at which this recent movement began, the Bitcoin price Bullish will continue to act above it.
This also makes it clear that from here there are certain areas of interest that could be a good entry point. The crypto analyst points to the next demand zone that is firm between $ 108,000 and $ 118,000, because of the way the last move began and took place.
Credibull Crypto explains that for the crypto traders who had shortened the movement between $ 108,000 and $ 118,000 and are now stuck with underwater bags, a return to this zone would create a strong question. This is because these traders would like to close their underwater positions or possibly want to supplement their positions at these levels. Anyway, the outcome is the same: that would be the case create a lot of question At this level, making it a potential area for a jump.
Related reading
If we follow this logic, if the The Bitcoin price returns Somewhere between $ 108,000 and $ 118,000, then this would be an ideal time to buy. “Dips in that zone of 108-118K are a blessing if we get them-and if that is not the case, enjoy the ride to 150k,” said the analyst.
However, this depends entirely on the Bitcoin price above the starting point of $ 108,400. If the price below this level decreased, it is possible that this canceled this bullish thesis and again leads to more sale.
Featured image of dall.e, graph of tradingview.com