A crypto analyst, TradingShot, predicts Bitcoin could surge to $150,000. They base this prediction on Fibonacci levels and the current phase of the Bitcoin bull cycle.
Bitcoin’s Bull Run: Phase 3
TradingShot believes Bitcoin is in phase 3 of its bull cycle. This phase, according to their analysis, should see Bitcoin hit the $150,000 mark, based on both horizontal and channel Fibonacci extensions.
Potential for Even Higher Prices
The analyst suggests a possible continuation of the rally, potentially leading to a price as high as $200,000 by the end of 2026. This aligns with some other predictions, like Standard Chartered’s forecast of $200,000 by the end of 2025. However, TradingShot also acknowledges the possibility of further price corrections before reaching these highs, potentially retracing to the 0.382 Fibonacci level.
Recent Price Action and Key Support
TradingShot points to positive recent price action. Bitcoin recently touched its 1-day 50-moving average (MA) for the first time in over two months and is rebounding. They highlight that the 1-week 50 MA has acted as a key support level since March 2023, successfully tested twice earlier this year. This support, they argue, is a key indicator of the current bullish trend.
Fibonacci Channel Analysis
TradingShot’s analysis focuses on a Fibonacci Channel Up, noting that Bitcoin’s price has followed this pattern since November 2021. They break down the bull cycle into phases:
- Phase 1: Traded within the 0.0 to 1.0 Fibonacci range.
- Phase 2: Traded within the 0.5 to 1.5 Fibonacci range.
- Phase 3 (Current): Expected to trade within the 1.0 to 2.0 Fibonacci range, leading to the predicted $150,000 target.
The analyst emphasizes the pattern’s symmetry and the tendency for rallies to result in approximately 100% surges, followed by pullbacks to the 0.382 Fibonacci retracement level. This pattern, they suggest, could repeat in phase 3.
