- Bitcoin (BTC) could reach a blow-off top of $100K by next week.
- The trend could be followed by a dip around $50K post-halving before resuming its climb.
Bitcoin to $100K
CryptoJobs founder with the handle “The Moon” on X and YouTube confidently forecasted that Bitcoin may be on its way to a parabolic run-up using technical data. This could cause prices to explode at the end of the short-term trend. Meanwhile, the blow-off top where the prices will squeeze significantly would be determined by the ascending triangle pattern that formed up in the one-year chart during the present consolidation phase that we are witnessing.
At current prices, the trend might lead to $83K next week. The numbers are a major pump from the current all-time high of BTC at $73,750.07 achieved exactly a month ago. The analyst added there’s a strong possibility that it has enough fuel to propel Bitcoin to the moon at $100K or even more.
However, he warned that once Bitcoin has exhausted its momentum at the blow-off top, the aftermath could result in a big correction all the way down to $50K. The timeframe for this series of events will likely coincide with the halving happening around April 20.
Should all these materialize and Bitcoin dips significantly as predicted, The Moon said the ensuing scenario might serve as a launchpad for the world’s leading cryptocurrency by market cap to sustainably soar to a new price discovery.
Brian Quinlivan of the Santiment Network somehow reflected the same positive outlook for Bitcoin. According to him, the ongoing diververge of the digital asset from the S&P 500 index may establish the same historic bullish signal it exhibited in the past.
The expert explained that based on his observation, Bitcoin tended to have one of its longest bull runs whenever it deviated from the S&P 500. And this time, the price movements of the digital asset could touch the $80K to $100K territories.
BTC Now
With the Bitcoin halving only less than a week away, the prime crypto continues to show strong resistance at the $72K line. As of this writing at 10:30 AM UTC on Saturday, BTC has dunked to $67,400 with over 4% loss in its value in the 24-hour frame, a decrease of 0.68% in the weekly range, and more than 8% loss in the one-month bracket. Nevertheless, it remains around 122% up over the one-year period.