Crypto analyst Madden predicts a Bitcoin price surge, potentially exceeding $100,000. Let’s dive into his analysis.
A Bullish Reversal?
Madden’s TradingView post points to a possible Bitcoin price rally above $100,000. He identifies potential price targets at $91,700, $102,700, and even a new all-time high at $109,356. This prediction is based on some interesting chart patterns.
Chart Patterns and Key Levels
Madden highlights a “Deep-Crab” harmonic and Wolfe wave pattern on the daily chart. These patterns suggest Bitcoin bottomed out around $76,600, setting the stage for a reversal. He also points to the CME daily chart, noting that the 200-day moving average has been retested and a previous price gap has been filled, reducing the likelihood of a significant drop. Importantly, Bitcoin is currently trading above key support lines from 2022 and 2024.
Bitcoin’s Roadmap: Upwards, Then Down?
Madden’s analysis paints a picture of Bitcoin’s potential trajectory. His chart suggests a peak around $125,000 by the end of the year, a prediction echoed by other experts like Willy Woo (who called it a “conservative” estimate). However, the forecast isn’t all sunshine and rainbows. The chart also shows a potential bear market beginning in 2026, pushing the price down to as low as $40,000 before the year’s end.
Other Experts Weigh In
Other analysts are also bullish. Ali Martinez notes Bitcoin is breaking out, targeting $90,000 as long as the $84,000 support holds. Interestingly, large Bitcoin holders (“whales”) seem to agree, having purchased over 20,000 BTC in just 48 hours.
Current Status
At the time of writing, Bitcoin is trading around $84,500, showing a healthy increase of over 3% in the last 24 hours.
