A crypto analyst who correctly predicted Bitcoin hitting $99,000 is doubling down with a new forecast. He thinks Bitcoin is about to go even higher!
A Bullish Prediction
Weslad, a TradingView analyst, now predicts Bitcoin will reach $105,764. He says Bitcoin’s entered a bull market, meaning prices are likely to keep rising. This prediction is based on a technical pattern called an “Ascending Channel,” which suggests the upward trend will continue.
Understanding the Chart
Weslad’s analysis uses a 4-hour Bitcoin chart showing the price moving within two upward-sloping trend lines. Here’s a breakdown of his key price levels:
- $91,000 – $92,000: A strong support zone. If Bitcoin dips, buyers are expected to step in here.
- $94,327.99: An “immediate buy-back zone”—a good entry point if the price corrects.
- $97,537: An “immediate profit target”—a good point to take profits for short-term traders.
- $100,334: A “mid-term target”—important for long-term investors.
- $105,764: The “projected final target” for this market cycle. That’s only about a 6.83% increase from the current price.
The Current Situation
At the time of writing, Bitcoin is trading around $99,072, up 12.73% in the last week. Weslad’s prediction of $105,764 seems achievable, given the recent momentum. But remember, crypto markets are volatile, so nothing is guaranteed.
