Bitcoin’s price has been a bit sluggish lately, leaving many investors wondering what’s next. Luckily, crypto experts are here to offer some insight. One expert predicts a massive price surge.
A $150,000 Bitcoin?
Market expert Tony Severino recently shared an exciting prediction on X (formerly Twitter): Bitcoin could hit $150,000! His analysis centers around a “bull flag” pattern on the Bitcoin price chart.
This pattern typically shows a sharp price increase (the “flagpole”), followed by a period of sideways or slightly downward movement (the “flag”). It often signals a continuation of the upward trend, suggesting a further price increase. However, a breakout from the “flag” is needed to confirm this. If Bitcoin breaks out of this pattern, Severino believes a new all-time high is possible. The potential target is calculated by adding the height of the flagpole to the breakout point.
Other Indicators Pointing Upward
Severino also pointed to other indicators supporting his bullish outlook:
- Squeezing Bollinger Bands:
This indicates low volatility, which often precedes a significant price movement.
- “Head Fake” Potential: Bitcoin’s recent failure to reach the lower Bollinger Band might be a “head fake”—a temporary dip before a strong upward move.
However, Severino cautions that a daily close above $111,000 is needed to confirm a sustained uptrend. A close below $101,000, on the other hand, could signal a price drop. At the time of writing, Bitcoin is trading above $105,000, up almost 2% in the last 24 hours.
