Exploring Bitcoin’s Path to a $150,000 Milestone
In a recent analysis, crypto expert TradingShot delves into Bitcoin’s potential ascent to the $150,000 mark. By examining the Fibonacci levels, he provides a roadmap for this ambitious target, while cautioning that further price corrections might precede this surge.
The Road to Bitcoin’s $150,000 Target
In a detailed TradingView analysis, TradingShot explains that Bitcoin is currently in phase 3 of its bull cycle, signaling the prospect of a significant price upswing. The anticipated peak is projected at the -0.5 horizontal Fibonacci extension, coinciding with the 2.0 Channel Fibonacci extension, pegging Bitcoin’s price at $150,000. This target aligns with the next technical extension of the Channel.
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Reflecting on phases 1 and 2 of Bitcoin’s bullish cycle, the analyst points out that these periods initiated a prolonged accumulation phase, potentially leading to a maximum correction back to the 0.382 Fibonacci level. With this context, TradingShot envisions another substantial rally, potentially propelling Bitcoin to a crest of $200,000 as phase 3 concludes.
According to TradingShot’s chart, Bitcoin could achieve this $200,000 milestone between October and December 2026. This prediction aligns with Standard Chartered’s forecast of Bitcoin reaching this level by the end of 2025. Furthermore, TradingShot offers additional insights into the current dynamics of Bitcoin’s price movement.
The analysis indicates that Bitcoin recently interacted with its 1-day 50 moving average (MA) for the first time in over two months, initiating a rebound. Notably, short-term buyers emerged strongly when Bitcoin neared the 50 MA, resulting in a robust recovery—a typical technical response during aggressive upward trends.
TradingShot emphasizes that the 1-week 50 MA serves as a crucial support level during Bitcoin’s bull cycles, having consistently acted as a support since March 2023. Notably, this support was successfully tested on August 5 and September 6, with the latter event marking the commencement of Bitcoin’s current bullish trajectory.
In-Depth Examination of the Fibonacci Channel
TradingShot extends his analysis to the Fibonacci Channel, highlighting its significance in Bitcoin’s bullish phases. Since November 21, 2021, Bitcoin has been navigating within a Fibonacci Channel Up, tracing back to the end of the last bear cycle.
During phase 1 of the bull cycle, Bitcoin operated within the Fib 0.0 to 1.0 range. In phase 2, the cryptocurrency transitioned to the 0.5 to 1.5 range. For phase 3, TradingShot anticipates Bitcoin will traverse the Fib 1.0 to 2.0 range.
He underscores the remarkable symmetry between sequences, legs, and pullbacks within this pattern. Notably, rallies have historically led to a 100% surge, as evidenced by the significant highs on April 14, 2023, and January 11, 2024. Subsequently, Bitcoin’s price retreated toward the 0.382 Fibonacci retracement level. This familiar price action is expected to repeat in phase 3.
