Bitcoin Could Skyrocket to $186,000: Analyst Prediction

A crypto analyst, Egrag Crypto, is predicting a huge Bitcoin price jump based on a bullish chart pattern.

The “Cup and Handle” Pattern

Egrag Crypto spotted a “Cup and Handle” pattern on Bitcoin’s chart. This pattern, common in technical analysis, suggests a big price increase is coming. Think of it like a U-shaped dip (“cup”) followed by a small dip (“handle”) before a breakout. The analyst believes this pattern indicates Bitcoin is poised for a major move.

Price Predictions: A Wide Range

Using different methods (logarithmic and non-logarithmic scales), Egrag Crypto came up with potential price targets. The conservative estimate is around $113,000, while a more aggressive projection, considering Bitcoin’s historical growth, hits $260,000. Averaging these, the analyst’s personal prediction is $186,000. Another potential target, based on Fibonacci levels, is $175,000. But, there’s a catch: Bitcoin needs to dip back down to around $65,000 first to trigger this upward surge.

Bitcoin Network Fees Drop, But Confidence Wanes?

Meanwhile, Bitcoin network fees have fallen by 24.4%, reaching their lowest point since September 2024. This happened even as Bitcoin’s price fluctuated. However, a significant inflow of Bitcoin into exchanges suggests some investors might be selling, hinting at weakening market confidence.

Current Market Situation

Currently, Bitcoin is trading around $84,545, showing a slight daily gain. However, the past week and month have seen losses, indicating a bearish trend in the short term.

slot pulsa Slot pulsa Gemilang77 Slot deposit pulsa Gemilang77 Slot pulsa Situs slot pulsa Link slot pulsa Slot deposit pulsa Slot pulsa Slot pulsa Deposit pulsa 5000 Slot pulsa Slot pulsa Slot pulsa https://letsplayparty.com/ https://www.alboprofessionisti.com/ Slot pulsa Gemilang77 Merpati77 Slot thailand Kaswari77 Kaswari77 Slot gacor Slot gacor hari ini Slot deposit 5000 Situs togel Slot via pulsa Slot deposit dana Situs toto togel Daftar situs toto Situs toto online Kembangtoto Toto slot https://situskembangtoto.com/ Slot deposit via qris Situs toto Situs toto kembangtoto toto slot