The price of Bitcoin has shown a bullish pattern that could reach a level between $150,000 and $170,000. Crypto analyst Gert van Lagen reveal how this could happen and what could come after this price increase.
Bitcoin price to rally as high as $170,000 after wave formation
Bitcoin price is expected to rally as high as $170,000 after wave formation. In the X postGert van Lagen revealed that Bitcoin has confirmed a wave 5 breakout within the range of $150,000 and $180,000 by reaching a new level recently. all time high (ATH) from $109,000. After this development, the analyst said that the main crypto is now aiming to reach between $150,000 and $170,000.
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As soon as the price of Bitcoin reaches between $150,000 and $170,000, Gert Van Lagen expects that a move as low as $120,000 will follow, with ceiling bids. However, the rally to $170,000 will not mark the cycling roof for the main crypto symbol as the analyst there will be another parabolic rally to the top, which will be the wave v to complete the fifth wave.
Gert van Lagen expects the Bitcoin price to rally as high as $300,000 on the final leg of this cycle, which would end the bull market. The accompanying chart showed that BTC could reach this price target by April. This is not the first time that the analyst has predicted that the main crypto could collect as high as $300,000. He noted before that cup and handle patternwhich put the last ascent for BTC at this price target.
BTC Rally To $158,000 Still To Play
Crypto analyst Titan of Crypto he also gave an optimistic view for the price of Bitcoin, saying that the projected rally to the $158,000 target is still in play. This target materialized when it signaled a bullish pennant forming on BTC's monthly timeframe. The analyst said that Bitcoin could catch the moon if this supportive pattern breaks out.
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Meanwhile, in another X post, Titan of Crypto mentioned that the major crypto is back to the bullish trend as it looks “extremely bullish” on the daily chart. This was based on his Ichimoku Cloud analysis, in which he indicated that the cloud was turning bullish.
Among these optimistic views for the price of Bitcoin, a crypto analyst Justin Bennett has warned that the major crypto could fall as low as $91,000. He said that Bitcoin went into Trump's establishment, so there is a good chance that they will be collected from here. The analyst said BTC is range bound until proven otherwise and the January 13 low at $91,000 looks set for a retest.
At the time of writing, the price of Bitcoin is trading at around $105,402, up more than 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com
