A generally followed crypto analyst says Bitcoin (BTC) is about to break market structure from his Bearish, and notes that it is on its way to the highest price tag since January.
Capital stretches in a new thread, pseudonymous crypto trader tells His 546,600 followers on the social media platform X, which can remain above an important level if the crypto king can remain above an important level, it can shoot to $ 104,500 in mid -June.
“Bitcoin is about to break his downward trend until mid -December 2024 (Black Diagonal). Bitcoin just has to stay above ~ $ 98,700 for the retest of the week to position itself for an outbreak to $ 104,500 (red).”
According to the trader, BTC is almost finished with his first price discounty correction period, a time, he says, was an optimal time for investors scare The flagship digital assets.
“Bitcoin has almost closed its first pricing correction period. Admittedly, the corrective phase lasted longer than was the case historically.
But it did not change the fact that the correction was an optimal possibilities for herncumulation with a high chance of price revenue up. Bitcoin is now just below $ 100,000. “
In December, Capital stretches noted That BTC’s price discovering correction phase began.
The analyst continues public participation That, based on the historical precedent, the Altcoin season should start at the beginning of 2025 after BTC Dominance starts to falter around 71%. Currently, the dominant level of BTC, or the percentage of the total crypto market capitalization it takes, is around 65%.
“If history repeats itself, the real altiation season that makes everyone wait as soon as Bitcoin Dominance starts rejected from 71% (red) and at the moment 71% is only ~ 6% removed.”
BTC acts for $ 100,792 at the time of writing, a win of 4.2% during the last 24 hours.
Follow us on X” Facebook And Telegram
Don’t miss a beat – Subscribe to get e -mail notifications directly to your inbox
Check price promotion
Surf the Daily Hodl -Mix
Generated image: midjourney
