Bitcoin just hit a new all-time high above $106,000! A crypto analyst, Master Kenobi, has spotted a super interesting pattern on the Bitcoin price chart that suggests things are about to get even more bullish.
An 88-Day Pattern Repeats Itself?
Master Kenobi noticed an 88-day pattern that looks remarkably similar to a pattern seen just before Bitcoin’s last big bull run in late 2023. The first 37 days of this new pattern mirror a period last year – both the price movements and the RSI (Relative Strength Index) look almost identical. He even drew lines on the RSI chart to show how symmetrical the two patterns are.
The Prediction: $124,300 by Early 2025
Based on this symmetry, Kenobi suggests Bitcoin might follow a similar path over the next 51 days. His projection? A price of around $124,300 by January 31st, 2025! That’s an additional 18% increase from the current price of around $105,000.
It’s important to remember this isn’t a guaranteed prediction, just an interesting observation based on past price behavior. But given Bitcoin’s history of repeating patterns and the current positive market sentiment, it’s definitely food for thought.
Will History Repeat Itself?
Cryptocurrencies are known for their unpredictable nature, but this analysis provides a fascinating perspective on potential future price movements. Whether Bitcoin actually hits $124,300 remains to be seen, but the current market certainly seems to be pointing upwards.
