Will Bitcoin's price reach 245K?
The time frame of this analysis is 2W. the chart you see is a complete data chart for Bitcoin. We have a valid price channel for Bitcoin, where the channel's midline and the resistance drawn from previous highs (red line) point to the 245K - 250K range. As you know, we had previously set a target of 169K for Bitcoin in the medium to long term, starting from much lower prices.
Experience has shown that, in logarithmic charts, price channels are valid for medium- to long-term trends.
Additionally, a significant resistance level (green line) in the 77K to 78K range has been broken, suggesting that the current price floor is within this range. If a drop occurs, a retest of this broken resistance is likely. Furthermore, there is a CME gap around 77K, and if this gap is filled, the bullish sentiment in the market will likely be reactivated.
Given Trump's four years of presidency and his support for crypto, this emerging market has the potential to reach substantial market caps.
Profit-making, even in a highly bullish market, still requires patience, diligence, and risk management.
Experience has shown that, in logarithmic charts, price channels are valid for medium- to long-term trends.
Additionally, a significant resistance level (green line) in the 77K to 78K range has been broken, suggesting that the current price floor is within this range. If a drop occurs, a retest of this broken resistance is likely. Furthermore, there is a CME gap around 77K, and if this gap is filled, the bullish sentiment in the market will likely be reactivated.
Given Trump's four years of presidency and his support for crypto, this emerging market has the potential to reach substantial market caps.
Profit-making, even in a highly bullish market, still requires patience, diligence, and risk management.
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