Once again, the price of Bitcoin rose bullishly and broke the $70,000 mark, demonstrating the strength for an upward move.
Bitcoin at $82,000 remains the target
Following the recent recovery seen today, Crypto Jelle, a popular cryptocurrency expert and Bitcoin enthusiast, has made a bullish prediction for the crypto asset, citing the $82,000 level in the near term.
Crypto Jelle emphasized that after a fakeout, Bitcoin retested the 2021 cycle highs, bounced and then broke out again. According to the analyst, BTC now only has one obstacle left to overcome as a result of the retest.
Moreover, he confirms that the race to new highs will begin when the largest cryptocurrency asset manages to break and hold above $71,500. As a result, the crypto analyst expects a rally soon, with the coin’s next target being around $82,000.
Jelle has addressed an urgent problem in the crypto community. He said some are still concerned about the next 3% move, while the higher timeframe chart seems more optimistic. Hence, he has urged investors to be patient and hold on to their bags to enjoy the positive move as the crypto asset seems poised for significant growth in the coming months.
With the approaching halve event expected to occur this month, Jelle’s prediction could develop in a short time. Historically, halvings have had a significant effect on the currency.
If this year’s halving reflects past trends, BTC could rise to $82,000 within weeks and rise even further. Several analysts believe that the event could push BTC’s price to $150,000 before the end of the year.
At the time of writing, Bitcoin was trading at $70,344, indicating an increase of 1.84% in the past 24 hours. Both total market capitalization and trading volume have also increased by 1.87% and 13% respectively over the past day.
Speculated price target for BTC this month
Since BTC witnessed a price recovery, many bullish predictions have surfaced about its next trajectory. Another analyst who has predicted BTC to rise above $80,000 is Adrian Zidanic.
During a episode on Thinking Crypto, Tony Edward, the show’s host, drew attention to Zidanic’s prediction, in which the expert pointed to a bullish ascending triangle emerging on the Bitcoin chart in this consolidation phase.
Zidanic predicts a breakout soon, with $86,500 as a price target. Although his projections acknowledge that a positive scenario is more likely to occur within a month.
Studying the chart, Edward expressed optimism that the aforementioned price could materialize after the halving. Edward believes it can go further $90,000underlining its price range between $85,000 and $90,000 and urging the community to be patient.
Featured image from iStock, chart from Tradingview.com
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