Analysts Predict Bitcoin to Hit $140K With Strong Momentum Analysts Predict Bitcoin to Hit $140K With Strong Momentum
Bitcoin Price is currently negotiated at $ 109,500, reflecting an increase of 4% this week and an increase of 2% intraday, despite the resurfacing of the main sleeping wallets. Recently, two portfolios that have been inactive for more than six years have transferred a total of 8,000 BTC to a Coinbase Prime custody portfolio.
In addition, Glassnode data revealed that more than 80,000 BTC, intact for five years or more, moved last Friday. The rebirth of these long -term coins has sparked speculation about a potential market dump while Bitcoin hovers near its heights of all time. However, the market has shown little reaction, indicating a strong accumulation below the surface.
On another note, the US dollar index (DXY) has reached its lowest level in 21 years compared to its mobile average at 200 days. This weakness of the Doxy is generally considered optimistic for risk assets like Bitcoin. With this increased bullish feeling, experts now predict a short -term goal of $ 140,000 for Bitcoin.
The analyst says BTC reached $ 140,000
Bitcoin recently released a model of flag and is now consolidated near its upper limit. If he erases the high swing from June, an increase at $ 120,000 probably appears in the short term.
Technical indicators also report bullish momentum for Bitcoin. The MacD formed a golden cross, accompanied by an upright histogram, while the impressive oscillator (AO) confirms that the momentum takes.
Likewise, the monetary flow of Chaikin (CMF) indicates a strong and growing money flow, reflecting a positive feeling on the market. The relative force index (RSI) is currently above the midline at 58 years, suggesting that the force of Bitcoin remains intact, with a large place to develop before entering the exaggerated territory.
In addition, experts are considering even higher short -term goals, some suggesting a potential rise at $ 140,000. In particular, analyst Mister Crypto has identified a bullish cup and the training of management reasons in price action. The “cup” took shape from January to early May, while the “handle” developed from late May to early July. Once this model broke out, Mister Crypto targets a parabolic move at $ 140,000.
