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Bitcoin momentum continues to accelerate more than $ 113,000, which led merchants to predict a rally at $ 150,000.
Bitcoin (BTC) made a new record greater than $ 113,788 on Thursday, and several analysts expect the trend to increase. The chief of research 10x Markus Thielen told Cintelegraph that BTC had a probability of 60% increase of more than 20% in the next two months.
The co-founder of Milk Road, Kyle Reidhead, was even more optimistic, projecting a target of $ 150,000 for BTC in her article on X.
Could the BTC continue higher, or will it occur at a new summit of all time revealing a bull trap? Let’s analyze the graphics to discover it.
Price prediction BTC
Bitcoin broke out above the resistance of $ 110,530 on Wednesday and reached a new summit of all time at $ 113,788 on Thursday. However, the Bears should pose a solid challenge near the reverse pattern of the head and shoulders at $ 113,800.
Buyers will have to drive the price above the neck to complete the bullish configuration. This will erase the path from a possible rally towards the model target of $ 150,000.
Sellers are likely to have other plans. They will try to withdraw the price below $ 110,530. If they succeed, the BTC / USDT pair can slide towards the mobile averages.
Buyers should defend the means of moving all their forces, because a break below the 50 -day simple mobile average (SMA) ($ 106,774) can speed up the sale. This will also be a negative divergence on the relative resistance index (RSI), reporting a deeper correction at $ 100,000.
In relation: Bitcoin Treasury Companies acquires record of 159,107 BTC in T2
Bulls try to maintain the price above the $ 110,530 escape level. If they manage to do so, the pair could challenge resistance to general costs at $ 112,000. This is a crucial short -term resistance to monitor because a break greater than $ 112,000 could propel the pair at $ 116,571.
The first sign of weakness will be a break below $ 110,530. This reports the profit book by short -term buyers. The Bears will then try to strengthen their position by pulling the price below the SMA of 50 days. If they can remove it, the pair can drop to $ 107,000, then to $ 105,000.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
