Source: MagsMeanwhile, network economist Timothy Peterson used statistical analysis to assume a trip to at least $115,000 by the end of June, setting a possible top under $130,000. Related: Bitcoin 'blow-off top' set at $128K with new all-time highs in sightBTC rounded bottom pattern targets $140KFrom a technical perspective, Bitcoin’s price has formed a rounded bottom chart pattern on the daily chart (see below).
Bitcoin is going to all-time highs today, said popular analyst AlphaBTC in a May 21 post on X. An accompanying chart showed Bitcoin’s price trading within an extended ascending parallel channel since it began its recovery on April 9. As of May 21, BTC’s price was trading 2.5% below its all-time high of over $109,000, which was the next major resistance.
If this barrier is broken, AlphaBTC anticipates $115,000 as the next likely target.“It seems inevitable that $BTC takes out the ATH soon, this grind and pop (squeeze) price action is being driven by bigger players that have their targets and know what it takes to use the bears shorting every pop to move the price higher.”BTC/USD 12-hour chart.
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Author / Journalist: Cointelegraph by Nancy Lubale
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