Bitcoin (BTC) finally went to rise after decreases and fluctuations. In the midst of this fluctuation, a crypto analyst detected a ‘cup and handle’ formation in the Bitcoin graph. In this context, the analyst envisages a breaking for the highest target of all time for BTC. Therefore, he announced to investors and traders that it may now be time to buy BTC.
Bitcoin price targets the highest level of all time!
Kriptokoin.comAs you have followed, Bitcoin continues its struggle below $ 100,000. Cobravanguard, one of the tradingView crypto analysts, emphasizes the formation of a textbook ‘cup and handle’ formation in a detailed Bitcoin price graph. This technical formation is a well -known bull’s continuation indicator. It also indicates that the momentum may be increasing and that Bitcoin may be on the verge of a powerful price rally.
Interestingly, the graph reflects other important technical indicators. For example, a rising triangular formation characterized by a flat upper resistance line and a rising lower trend line. This technical formation is another bull formation that usually seen before a rally and indicates that the procurement pressure increases. Speaking of the procurement pressure, Cobravanguard emphasizes that the emergence of two rise technical formations in the Bitcoin graph can be an indicator for purchases and hodl. The fact that the price is below $ 100,000 means that an upcoming BTC price rally may be the best time to enter the market.
BTC creates trophy and handle formation. Source: CobravanguardTarget Price for Bitcoin: 120,000 dollars!
Based on these models, TradingView analyst set a new target for Bitcoin. Llider estimates that crypto money will reach $ 120,000 in the coming weeks. This will exceed the previous market summits earlier this year and point to the highest level of all time.
Cobravanguard also detected an AB = CD harmonic formation in addition to the ‘trophy and handle’ and rising triangular formation in the graph. This shows that the AB = CD indicator is symmetry in Bitcoin price movements. In addition, when the formation is completed, it signals the upward movement. Although the analyst predicts that the BTC can reach $ 120,000, he emphasizes that if the breaking of the above -mentioned rise formations continues, a higher target of $ 124,619 can be achieved.
WALLINALS CONTINUE THE BIG BTC PURCHASING MADIA
Bitcoin purchase pressure continues because whales are as much as they can get as much as they can during the current decrease trend. It is known that these deep -pocket investors made strategic purchases, usually entered the market during the wavy and decrease periods and then sell at the summits of the market.
According to Coinvo’s new reports in X, Bitcoin whales are currently buying “crazy” amounts of BTC. Coinvo, who shares a detailed graph showing the entry of Bitcoin’s accumulation addresses, emphasizes that there is a sharp increase in entrances and claims that whales are actively buying large amounts of BTC. Since it tends to increase the demand for accumulation, this behavior is usually seen before the potential price rally. As a result, Coinvo says increased whale activity may be a sign to start buying BTC.
