Bitcoin price has exceeded $100,000 for the first time in history, it aroused optimism among market participants. In line with this development, cryptocurrency analyst Xanrox provided insight into whether Bitcoin is poised for further gains, or whether a rally above $100,000 could be a potential bull trap.

What’s next for Bitcoin’s price after rising to $100,000?

In recent TradeView entryXanrox suggested that Bitcoin’s price is unlikely to enjoy sustained growth for now. He explained that this is unlikely because sustained growth could easily push Bitcoin to $600,000 by December 2025, which is impossible. As such, he believes BTC will have to tardy down.

The analyst further noted that Bitcoin’s price has not changed greater correction in recent weeks, which is one of the reasons why I don’t plan on buying BTC any time soon. Xanrox noticed that the market needed, above all, a shock and a sudden crash. He suggested that when the correction finally happens, Bitcoin could fall as low as $85,000.

Xanrox stated that Level $85,000 is very reasonable support as it marks the end of the massive fair value gap (FVG) on daily candles. He added that this goal is also the beginning of the first price action on the volume profile. A cryptocurrency analyst revealed that this is the level at which he wants to buy Bitcoin.

The cryptocurrency analyst indicated that this rise in Bitcoin price to $100,000 is a bull trap as he highlighted a symmetrical triangle on the four-hour chart. He said it looked like a bull trap for retail traders because everyone would buy the breakout. As such, he predicts that Bitcoin will make one last move to provide liquidity.

A major correction may not occur any time soon

On the other hand, a cryptocurrency analyst Ali Martinez offered a divergent opinion, suggesting that a major correction in Bitcoin’s price may not happen anytime soon. In his last post on X, he referred to a previous post in which he stated that the current bullish cycle is very similar to those of 2017 and 2020.

If this pattern holds true, Martinez predicts that Bitcoin’s price won’t see its first major correction of 15% to 30% until it reaches $135,000 or even $159,000. Meanwhile, the attached chart shows the market peak Bitcoin for $240,000which indicates that even after this correction, there will be even more room for an upward move.

At the time of writing, Bitcoin is trading at around $102,800, up over 6% in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com