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Crypto analyst Cryptocon has again confirmed that a Bitcoin price rally is still in the game for the purpose of $ 166,000. The analyst also revealed what should be done for the flagship Crypto to achieve this ambitious price target.
What determines the Bitcoin price rally up to $ 166,000
In one XCryptocon stated that the Bitcoin price simply should reflect last year’s movement to achieve the next sport on this hyper-accurate extension in March. His accompanying graph showed that the next sport on the $ 166,000 price level. In the meantime, between January 2024 and March 2024, Bitcoin has recorded a considerable price rally, a historical movement that believes that cryptocon believes that the flagship must mirror crypto to achieve this goal.
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The analyst noted that it may seem ridiculous, but he claimed that a run to this purpose of $ 166,000 was not far -fetched next month. A few days ago, cryptocoon predicted that the Bitcoin -Price can collect Up to $ 160,000 in the next thirty days, which means that it could hit this goal by next month. These predictions undoubtedly offer some optimism, especially in view of the downward pressure with which the flagship Crypto is currently confronted.
In the meantime, Cryptocon also suggested that there was the possibility that the Bitcoin rally lasted up to $ 166,000 longer. However, he added that the cycle is not over and that this price target is not going anywhere, which indicates that BTC will reach it in this bull market. Mark experts such as research agency Matrixport also predicted that Bitcoin could collect this year up to $ 160,000.
In the meantime, Asset Manager Bitwise predicted that the Bitcoin price would collect this year up to $ 200,000. Standard Chartered also claimed that BTC reaches around $ 200,000 At the end of the year is feasible.
State of things for BTC
Crypto analyst Credibull Crypto provided some insights into the current Bitcoin price promotion. In an X -post he stated that BTC still holds the higher time frame support zone at $ 94,553. As long as BTC continues to hold on to this support zone, he expects some further consolidation around this area.
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The Crypto analyst also drawn attention to a potential PO3 that was at these levels for the Bitcoin price. He noted that he would like to see a movement under the lows at $ 94,100 and then recover and push to the local stock directly above the last local highlights.
Crypto analyst Ali Martinez also confirmed that the Bitcoin price in a Consolidation phase. He revealed that the battery trend score of BTC is zero, indicating a period of consolidation. The Crypto analyst added that a shift in the question here could determine the stage for the next big move.
At the time of writing, the Bitcoin price acts at around $ 95,800, according to more than 2% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Istock, graph of TradingView.com