After a bad start to opinionated until June, Bitcoin investors are wondering what’s next for the world’s biggest cryptocurrency. Interestingly, Crypto analysts have always been the guide light whenever there is uncertainty about the next direction of the best cryptocurrency. That’s why prominent market experts are making exciting predictions for Bitcoin prices.
Bitcoin prices are up to $150,000 in operation
In a recent post on the X platform, chartered market engineer Tony Severino proposed an interesting analysis of Bitcoin prices. According to experts at Crypto Market, the price of BTC could move as high as the $150,000 mark at the next bullish stage.
The reason behind this bull projection is the formation of a bull flag pattern on the daily time frame of the Bitcoin price chart. Bull flags are technical analysis patterns characterized by periods of sudden upward movement (flagpole), usually followed by horizontal or slightly downward price action.
Bull Flag It is usually seen as a general continuation pattern of existing upward trends, suggesting a potential move towards higher prices. However, it is important to wait for success from integration before confirming that prices continue on an upward trajectory.
Source: @TonyTheBullCMT on XAccording to Severino, if this bull flag is valid and the price is successful from the pattern, the price of Bitcoin could be a new all-time high. The target for this chart pattern is usually determined by adding the vertical height of the flagpole from the flag to a potential breakout point.
What other indicators say
Severino highlighted another metric and explained what he is currently saying about Bitcoin’s next leg. For example, Crypto experts said the Bollinger band is under pressure. This means that market volatility is currently low, but there could be a big price movement on the horizon.
Severino also said that the price of Bitcoin could not reach the lower band of the Bollinger Band indicator. This could be a “head fake” before the flagship cryptocurrency sets off on a fresh upward drive. However, investors may want to see potential sustained upward trends beyond the $111,000 level in their daily time frame.
It is under the lower band just below the $101,000 mark, which could suggest a drawback in Bitcoin’s price. At the time of this writing, BTC prices are above $105,000, reflecting an almost 2% increase over the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
ISTOCK featured images, TradingView chart
