Bitcoin’s Next Move: Insights from an Analyst

Crypto analyst TechDev has shared his predictions for Bitcoin’s future.

Blowoff Top Still to Come

TechDev believes that Bitcoin has not yet reached its peak in this market cycle. He predicts a parabolic uptrend before a significant decline. Blowoff tops, where prices rise rapidly followed by a sharp drop, have occurred in previous bull cycles. TechDev’s chart suggests a similar pattern for Bitcoin, with a parabolic uptrend until 2025.

Breakout Soon?

TechDev suggests that Bitcoin could experience a breakout in 18 days, a rare event in its history. He predicts a potential rise to $190,000 in this bull run.

Other Analysts’ Predictions

Analyst CrediBULL Crypto predicts a Bitcoin breakout in the next 7-10 days, with a potential rise to $100,000.

Breakout May Take Time

Analyst Rekt Capital believes Bitcoin’s breakout from its current range could occur in September 2024. He argues that the current consolidation is beneficial for the overall cycle, allowing Bitcoin’s price to align with historical halving cycles.

Current Market Situation

As of writing, Bitcoin is trading around $66,900, down slightly in the last 24 hours.