cryptonet24.com logo cryptonet24.com logo
Finbold 2025-05-17 14:06:07

Bitcoin to hit $130,000 on this date, according to analyst

As Bitcoin ( BTC ) consolidates just below $105,000, an analyst has identified a historical trend that could propel the flagship cryptocurrency to a new all-time high in the coming weeks. Since bottoming in early April, Bitcoin has moved in a clear $10,000 step-like pattern, first breaking through $74,000, then $84,000, $94,000, and now consolidating near $104,000. This consistent progression has seen each primary level tested and breached, forming a well-defined upward channel. According to prominent crypto analyst TradingShot in a TradingView post on May 16, this formation suggests that Bitcoin is trading within an ascending channel, indicating room for continued gains. Bitcoin price analysis chart. Source: TradingView/TradingShot If the channel holds, the next potential milestones are $114,000, $124,000, and ultimately $134,000, a key target TradingShot projects for late June or early July. However, the bullish structure comes with risks. A breakdown below the channel’s lower boundary could trigger a sharp correction, with possible support retests around $94,000 or even $84,000. Bitcoin’s path to $120,000 Adding to the bullish sentiment, analyst Ali Martinez noted in a May 17 X post that Bitcoin could aim for a new high near $120,000, provided it maintains support above $90,000. Martinez’s analysis was based on the “Cumulative Value Days Destroyed” (CVDD) indicator, which signals that Bitcoin is currently in a healthy accumulation phase. Historically, this metric has identified market tops and bottoms, and the current trend suggests a potential blow-off top around $120,000. Bitcoin Cumulative Value Days Destroyed chart. Source: CryptoQuant According to the chart, Bitcoin is now in the final stages of accumulation. The CVDD is $34,153, while major resistance is $124,088. Support remains at $90,000, an area that aligns with key psychological and technical levels. Amid this optimistic outlook, Bitcoin has recently hovered between $104,000 and $105,000. Analysts believe the asset may be consolidating within a bullish flag, a continuation pattern following its strong surge from $74,400 to $105,900. That rally was fueled by margin liquidations and strong spot demand, backed by billions in BTC ETF inflows. Bitcoin price analysis By press time, Bitcoin was trading at $102,977, down about 0.6% on both the daily and weekly charts. Bitcoin seven-day price chart. Source: Finbold Still, BTC remains well above its 50-day simple moving average ( SMA ) of $90,993 and its 200-day SMA of $86,134, reinforcing strong bullish momentum. The gap between the current price and these moving averages suggests the uptrend remains intact, even if a short-term pullback occurs. Featured image via Shutterstock The post Bitcoin to hit $130,000 on this date, according to analyst appeared first on Finbold .

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen