Bitcoin Price Prediction: After ATH, Only $128,000 Stands Between BTC and an Exponential Rise to $160,000
As talked about in my Bitcoin price prediction, BTC’s current rally has unfolded precisely as projected. The cryptocurrency broke above the $118,000 resistance, maintained bullish momentum throughout the Bearish Butterfly sample, and touched $124,600 earlier than getting into a consolidation part.
At the time of writing, Bitcoin is buying and selling at $123,108, up 0.69% previously 24 hours, with a market capitalization of $2.45 trillion and a every day buying and selling quantity exceeding $65 billion. This pause close to $124K isn’t an indication of weak point.
Instead, it displays pure market digestion earlier than the following transfer towards the Potential Reversal Zone (PRZ, which lies) between $128K and $130K, the place the harmonic sample is predicted to full.
On the 4-hour chart, Bitcoin continues to comply with its rising channel construction, confirming a wholesome collection of upper highs and greater lows. The 50-SMA ($116,394) and 100-SMA ($114,948) each stay under value motion, reinforcing bullish alignment. Momentum indicators echo the identical narrative: the RSI has eased to 66, cooling from overbought situations above 75, a typical mid-rally reset earlier than continuation.
Bitcoin Technical Outlook – The Bearish Butterfly Reaches a Key Juncture
Bitcoin price prediction is bullish proper now, even when, the medium time period sample counsel bearish bias quickly. Bearish Butterfly harmonic sample, first highlighted in my October 3 forecast, stays central to the present setup.
This construction signifies that whereas Bitcoin’s short-term momentum is robust, the chance of reversal will enhance as the value approaches the higher PRZ.
Candlestick conduct reinforces this duality. Recent candles present smaller our bodies with higher wicks, indicating short-term hesitation amongst patrons as they check resistance round $124,000.
Historically, such pauses typically precede both a breakout continuation or a measured pullback towards native assist — on this case, close to $121,140 or $118,500.
Still, there aren’t any indicators of exhaustion but. Volume traits and institutional inflows counsel continued accumulation, and funding charges stay balanced, signaling that the rally isn’t purely speculative. Should Bitcoin keep its footing above $ 121,000, the following leg towards $ 128,000–$ 130,000 seems more and more possible.
Pathway to $160K – The Bullish Continuation Scenario
If Bitcoin decisively breaks above $ 128,000, it may invalidate the short-term bearish implications of the harmonic sample and pave the way in which for an prolonged rally towards $ 160,000. Such a breakout would signify not solely technical energy but additionally psychological affirmation of renewed institutional urge for food.
CME open curiosity and ETF inflows proceed to mirror increasing participation from skilled buyers — a stark distinction to retail hesitation seen throughout prior cycles. With macro situations easing and liquidity bettering, the setup mirrors the early phases of Bitcoin’s 2020–2021 bull part.
For merchants, the important thing stays persistence and construction. As lengthy as BTC holds above $121,000, momentum stays on the aspect of patrons. A clear breakout above $124,600 may reignite bullish quantity and push the market into the PRZ.
Beyond that, a confirmed shut over $ 130,000 would open the door to exponential growth — probably propelling Bitcoin towards its subsequent main goal at $160,000 within the months forward.
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