Bitcoin (BTC) has the market excitement Break the level of $ 123,000. Currently, technical indicators, rising liquidity and macro -economic backwind analysts have predicting that the leading cryptocurrency is At the point of a parabolic increase To a top of $ 140,000 in the coming weeks.
$ 140,000 set as Bitcoin Next Top Target
The Bitcoin price shows a remarkable strength because it goes further than the range of $ 123,000. Technical indicators identified By crypto analyst Mr Wall Street is now focusing on a new target in the short term between $ 135,000 and $ 140,000.
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According to the market expert’s graph report, BTC has successfully broken from a Widding pattern After consolidating between falling support and horizontal resistance for almost two months. Decisive outbreak over the resistance of $ 112,000 Validates the earlier bullish projections of the analyst.
Initially, the analyst suggested two possible scenarios: a breakthrough above all time around $ 112,000 that directly led to a $ 117,000- $ 120,000 rally or a short dip up to $ 92,000 Fill the cme opening Before going to the same target zone.
Based on his recent price movement, Bitcoin has chosen to follow the first scenario, to underline the strength of his Bullish Momentum and to identify it for a short term Fear, uncertainty and doubt (FUD) Has had little to no effect. With the second scenario officially invalid, BTCs praise process is apparently clearer and higher.
The recent increase above $ 123,000 has also brought the next large liquidity pool to the attention of $ 135,000 and $ 140,000. The graph emphasizes that reaching this zone would liquidate more than $ 45 billion in short positions. After this, the next target zone is between $ 160,000 and $ 170,000, which threatens another $ 70 billion in short liquidations.
M2 Surge and MacD Fuel BTC’s Bullish Case
Mr. Wall Street’s bullish setup for Bitcoin is further supported by macro -economic and important map indicators. The analyst pointed out US President Donald TrumpThe recent approval of a bill to increase the debt ceiling of the country – a movement that speeds up debt growth. In turn, it is expected to expand M2 Money SupplyThat historically correlates with rising prices for assets such as Bitcoin.
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BTCs Retailing average Convergence -Divergence (MACD) also remains fully intact for all time frames, while the market value for realized value (MVRV) ratio Is still far below historic top levels. Moreover, the Relative strength -Index (RSI) Is not yet in Overbought Territory. These indicators confirm that Bitcoin is still far from a macro top, making the range of $ 135,000 -$ 140,000 a plausible interim target.
Vooruit, Mr. emphasizes Wall Street that Bitcoin is a supercycle enteredA phase in which the market is marked by Quotation. Although he recognizes the possibility of a short -term retest of the $ 112,000 level before he goes up, the analyst claims that, regardless of small withdrawal, the price action here is probably fast and aggressive.
Featured image of Pixabay, graph of TradingView.com