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Bitcoin has continued Maintain bullish momentum Despite seeing a small correction after initially reaching $ 105,000. The long stay above $ 100,000 has fueled the story that this rally is here to stay and higher prices are on the road. Currently, the price seems to consolidate before he goes up, a region that Crypto analyst Gert van Lagen has referred to as a trend continuation.
Bitcoin price is in the trend continuation
In an update analysis posted On X (formerly Twitter), Gert van Lagen stated that the Bitcoin price has now actually introduced the trend -front phase of the cycle. This comes after the building phase before the tension that started at the lows at $$ 76,000, ending in the impulse movement that eventually pushed Bitcoin above $ 100,000.
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According to the shared graph, the trend follow-up part of the cycle is when the Bitcoin price continues to explode, so that it is moved entirely to new all time. Gert’s graph shows that the BTC price is still more than 100% away from the Cyclus peak, which is displayed here on more than $ 320,000.
Despite the bull market, however, there are still some Nuisance for the Bitcoin price At this level. To confirm this trend for the front, the price above $ 109,400 should break. This level should not only be broken, but it must also hold on and mark a weekly close to it. The opposite of this event would threaten the validity of the continuation of the trend.
To make the entire movement invalid, the Crypto analyst explains that the Bitcoin price should place a structural weekly closure below $ 79,000. This would be a crash of 25% of the current levels. Bitcoin is currently still stuck in a re-accumulation phase.
Map the road to $ 320,000 and beyond
If the trend is set, there are a number of other phases that the Bitcoin price is expected to go through. As mentioned above, the top for the next phase is $ 320,000, but once this is affected, the price is expected to be from there.
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The following is the distribution phase as investors around their participations began to move and be able to sell in liquidity. The crypto analyst then predicts a quick price movement that activates a crash back to $ 100,000. Then a small recovery is as the voltage builds and the Bitcoin price loses the upward trend.
From here a different trend for the front will send the price further down and then to more redistribution. This is then followed by a new fast price movement that takes the Bitcoin price deeper into the 5-digit area and then a full recession. At the lowest, the crypto analyst BTC eventually sees falling Again under $ 10,300.
Featured image of dall.e, graph of tradingview.com