This article is available in Spanish.
Crypto analyst CryptoCon recently hinted at a Bitcoin ‘Golden Multiplier Ratio’, which he said paints a very bullish picture of the Bitcoin price. Based on this, the analyst noted that the party was just beginning, indicating that the flagship crypto is likely to go much higher.
Bitcoin Golden Ratio Multiplier indicates that the price is going higher
In an X-post, CryptoCon highlighted how the Bitcoin Golden Multiplier Ratio indicates that the price is going much higher. He mentioned level 5 of the Golden Ration Multiplier, which he claimed has a dual purpose for the middle class and the cycle top. The analyst said Bitcoin formed the mid-top at level 5 earlier this year in March when it reached its previous level all-time high (ATH) of $73,000.
Related reading
CryptoCon further said that it seems likely that Bitcoin will reach this level again before this market cycle is over. The analyst added that the Level 5 band has risen to $122,000 and is still rising. In line with this, he noted that the party has only just begun, indicating that the Bitcoin rally could go much higher and even reach. this goal of $122,000.
In a previous X post, CryptoCon also used the Magic Bands indicator to provide insight into Bitcoin’s price action and how high it could reach in this bull run. He said Bitcoin is racing to reach level 3 of the Magic Bands at $98,720. He added that the bands will quickly expand upward as they adjust to the volume outside the ATHs.
Based on this, the analyst said that the cycle top The target is now $134,000 and that the Bitcoin price could rise $1,000 weekly. CryptoCon noted that it expects a cycle top sometime in late 2025. That means there is a lot of time for the bands to expand to higher prices, indicating that the Bitcoin price could move higher.
BTC is ready to regain local highs
Crypto analyst CrediBULL Crypto stated that the Bitcoin price seems poised to head towards the local highs as long as the $87,700 level is not breached. The analyst also said that a clear and impulsive move above the local highs of $93,800 would take Bitcoin above $100,000, making the possibility of a decline to $72,000 unlikely until the next bear market.
Related reading
However, if that clear and impulsive move does not happen, CrediBull Crypto stated that it would imply that the move is corrective and increases the likelihood that the range between $70,000 and $72,000 exponentially higher. He suggested that BTC could even fall below $70,000.
At the time of writing, the Bitcoin price is trading around $91,200, up almost 4% in the last 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com