Fun

Bitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH

News Feed - 2024-12-18 09:12:33

Este artículo también está disponible en español.


Crypto analyst Charting Guyhas provided a major update on the Bitcoin price action as BTC hit a new all-time high (ATH) at $108,000. The analyst drew similarities between the current price and that of 2023 while revealing what could happen next for the flagship crypto.  What Next As Bitcoin Price Mirrors 2023 Move


In an X post, Charting Guy revealed that the Bitcoin price is still following 2023. The analyst predicted that the flagship crypto could hit the $110,000 to $120,000 area on this leg up, with this surge expected to happen later this week or early next week. Bitcoin looks to already be on its way to this price target, having recently hit a new ATH at $108,000.  Related Reading Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend 23 hours ago Source: X


Charting Guy also predicted that the Bitcoin price would tap the resistance on the daily Relative Strength Index (RSI), forming a triple bearish divergence, marking a slight local top for the flagship crypto. Once that happens, the analyst believes that Bitcoin will consolidate between $105 and $115,000 for a few weeks. 


The Bitcoin price could then record a fakeout move up to the $125,000 to $130,000 range into Donald Trump’s inauguration with a quick dump afterwards. Charting Guy predicts that this dump could maybe lead to a final retest of the $100,000 psychological level. Once that is done, Bitcoin could then begin the final leg up, starting from mid-February to the 1.618 Fibonacci level at around $170,000. The analyst opined that this could mark the final cycle top.  What Happens As BTC Consolidates


As the Bitcoin price consolidates from around Christmas to Donald Trump’s inauguration, Charting Guy believes that altcoins will go “absolutely insane.” The analyst also predicts that these altcoins will witness another parabolic rally roughly one month after Bitcoin tops in late March.  Related Reading Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance 1 day ago


These altcoinsare expected to rally higher while the Bitcoin price makes lower highs. Charting Guy noted that different altcoins could top at different times. Some could happen at the start of next year, some during the Inauguration, and others when BTC tops in March or possibly extend to April. The analyst is confident that all these altcoins will get a major top in the first quarter of next year, with an extension to April possible for some coins. 


Charting Guy stated that the exact top for these altcoins will depend on each altcoin and its chart structure, wave count, Fibonacci levels, and other technical indicators. Specifically, the analyst highlighted LINK and XRP, stating that both coins could have their wave 3 topping in early Q1, with a wave 4 correction into the summer and a fifth wave higher high into August and September. The analyst added that the fifth wave isn’t really guaranteed and is speculative.  BTC price drops to $103,000 | Source: BTCUSD on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

News Feed

Prashant Jha11 hours agoDeFi liquidity protocol adds ConsenSys-developed zkEVM rollup LineaThe co-founder of the liquidity protocol said the ZK-rollup-based scaling solution could potentially solve the scalability dilemm
Indian Crypto Bill: Exchange CEO Discusses What to Expect
Indian Crypto Bill: Exchange CEO Discusses What to Expect There are reports that the Indian government may impose restrictions on self-custodial cryptocurrency wallets and only all
Dogecoin $3 Dream: Whale Activity Hints At A Surge—Details
Este artículo también está disponible en español. Dogecoin (DOGE) has once again captivated the crypto market, as significant investors have initiated transactions that s
Gareth Jenkinson12 hours agoSam Bankman-Fried FTX trial — 5 things you need to knowThe long-awaited trial of former FTX CEO Sam Bankman-Fried gets underway on Oct. 4 — here’s what you need to know.2483 Total views7
Justin Trudeau Slams Pierre Poilievre for Telling People They Can ‘Opt out’ of Inflation by Investing in Cryptocurrency
Justin Trudeau Slams Pierre Poilievre for Telling People They Can "Opt out" of Inflation by Investing in Cryptocurrency Canadian Prime Minister Justin Trudeau has slammed Pierre Po
Bitcoin Whales Grow After Price Bottoms, Analyst Says ‘Coins Are Moving to Very Strong Holders’
Bitcoin Whales Grow After Price Bottoms, Analyst Says "Coins Are Moving to Very Strong Holders" While the price of bitcoin has been consolidating just above the
Tron and Poloniex Relationship Scrutinized After Digibyte Delisting
Tron and Poloniex Relationship Scrutinized After Digibyte Delisting The crypto firm Circle recently revealed that it was spinning off the trading platform Poloniex and has since
Solana At A Crossroads: Consolidation Before The Next Major Surge?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth – Details
Este artículo también está disponible en español. Bitcoin has rebounded strongly from the $65,000 mark after a 6% dip from Monday’s high of around $69,500. Despite the
Saudi Chemicals Producer SABIC Launches Blockchain Pilot Project
Saudi Chemicals Producer SABIC Launches Blockchain Pilot Project A Saudi Arabia-based chemical manufacturer has said its recently launched blockchain pilot is expected to uncover t
Cryptojacker conned $3.5M from cloud firms to mine crypto, feds allege
Jesse Coghlan7 hours agoCryptojacker conned $3.5M from cloud firms to mine crypto, feds allegeProsecutors claim the “cryptojacking” scheme stole cloud computing resources to mine nearly $1 million worth of crypto.869
Dogecoin Appears Poised For Explosive 10,000% Gain – Analyst
Este artículo también está disponible en español. Dogecoin (DOGE) has shown some upward mobility in the last day following a rather bearish trading week.  Based on data