After a fascinating month in June, Bitcoin investors wondered what the next step of the world’s largest cryptocurrency was. Interestingly, encryption analysts have always been guidance lights whenever there is uncertainty about the next direction of Pryptocurrency. As a result, prominent market experts have begun an interesting projection of Bitcoin prices.
How to run bitcoin prices up to $ 150,000
In a recent post on the X platform, Tony Severino, a commercial market technician, presented an interesting analysis of Bitcoin prices. According to the Crypto Market Expert, the price of the BTC can be traveled at a height of about $ 150,000 at the next stage.
The reason for this strong projection is the formation of the bull flag pattern during the daily period of the Bitcoin price chart. Bull Flag is a technical analysis pattern that is characterized by a steep upward movement period (flagpole) and a slightly falling price behavior.
that Bull In general, it is considered a general continuous pattern for the existing rise, which suggests potential movement at higher prices. However, it is important to wait for successful escape from integration before confirming that the price will continue from the upward trajectory.
Source: @TonyTheBullCMT on XAccording to SEverino, if the bull flag is valid and the price successfully breaks down the pattern, the Bitcoin price can lead to a new highest. The target of this chart pattern is usually determined by adding the vertical height of the flagpole to the potential brake out point of the flag.
What other indicators say
SEVERINO emphasized another indicator and explained what is currently talking about Bitcoin’s next leg. For example, encryption experts mentioned that the Bollinger band is under pressure. In other words, the current market volatility is low, but it means that a significant price movement may be on the horizon.
SEVERINO also mentioned that the price of Bitcoin did not reach the low band of the Bollinger Band Indicator, which mentioned that the flagship cryptocurrency could be “head fake” before starting a new upward run. However, investors may want to monitor more than $ 111,000 in the daily period to confirm the potential continuous rise.
Nearly under the sub -band, you can offer a drop in bitcoin prices just below $ 101,000. At the time of this article, the price of BTC is over $ 105,000 and has increased almost 2% over the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
Editorial process focuses on providing thorough research, accurate and prejudice content. We support the strict sourcing standard and each page is diligent in the top technology experts and the seasoned editor’s team. This process ensures the integrity, relevance and value of the reader’s content.
