Last month, Bitcoin (BTC) prices rarely grew due to boundaries between $ 103,000 and $ 110,000.
Since the establishment of a new time of $ 111,931 at the end of May, the Premier Cryptocurrency has witnessed a significant level of pressure to increase the price of more prices.
While the market is now established, the popular merchants along with the X -pseudo trader, Tardigrade, continue to wet Bitcoin’s strong potential with another strong price forecast.
Bitcoin Bull is far from the analyst.
In X mail On June 14, Trader Tardigrade shares an attractive analysis of the Bitcoin market that suggests flagship cryptocurrency.
Using the BTC Daily Trading Chart, Tardigrade has pointed out the recent Golden Cross formation with a simple moving average (50SMA), which is 50 days simplicity (200SMA) for the last two months of the recovery of assets.
Source: Trader Tardigrade/X
In the context, the Golden Cross is one of the most common optimistic formation that represents a wide range of price rally. The short -term moving average moves to the long -term moving average, indicating a potential shift that can move from integration or downward conversion to a strong rise.
Since 2023, three cases of 50/200 SMA Golden Cross have been significantly priced at 49%, 125%and 68%.
Through this price history, Tardigrade records at least $ 152,000 in market prices assuming the most recent Golden Cross Tip Bitcoin, showing 44.7%of the current market price in a worse case scenario.
But in an optimistic situation, the analyst predicts that premiere cryptocurrency can be traded up to $ 229,000, which can reflect the price increase of 118%in the current asset’s current evaluation.
Tardigrade produced about 47%at the lowest level in April, explaining the feasibility of this prediction that pointed out Bitcoin’s recent rise. In particular, the price of Bitcoin has risen 656% since the current market cycle began in late 2022.
Bitcoin price outline
At the time of writing, the value of BTC is $ 105,552 after an increase of 0.20% last day. Flagship Cryptocurrency also maintains green performance for a longer period of time with a profit of 0.03% and 1.41% every week on weekly and monthly charts.
Despite these positive figures, Bitcoin’s recent price behavior has shown signs of fatigue, and over the last week, the profit margin that reflects the movements to the side has narrowed.
But this cooling exercise did not weaken investor appetite. In particular, the Bitcoin ETF market is A Strong reboundLast week, the total net leaks reached $ 2881 million, and the net inflow of $ 13.7 billion last week.
BTC crosses above $105,000 on the daily chart | Source: BTCUSDT on TradingView.com
Istock’s main image, TradingView chart
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