An outstanding cryptographic analyst, beetroot, tilted Bitcoin (BTC) to achieve the target price of USD 124,000 based on data from the multiplier multiplier model of the golden coefficient. This stubborn forecast appears after an impressive price enhance last week, suggests that the most significant cryptocurrency may have more space for an immediate price enhance.
Can Bitcoin return to the top of the 1.6x accumulation?
In x post On April 26, Bulk Kesmeci has released the latest updates of the Bitcoin Golden Ratio multiplier price model, referring to data from Bitcoin Pro magazine. For the context, the golden coefficient multiplier model uses the average movable and fibonacci indicators to support you identify when BTC can be overstated or undervalued, thus signaling possible market peaks or good accumulation options.
According to the following chart, Bitcoin has recently tested 350 daily movable average (350 DMA) to 77,000 USD. As the name suggests, 350DMA follows the average BTC price in the last 350 days and acts as a key support zone. Touching or a brief immersion below this level often signals a potential long -term opportunity to buy.
Bitcoin recently affected from 350DMA, after prices up to 75,000 USD there were two more price ranges to trade up to USD 96,000.
According to the price bands in the Golden Multiplier ratio, BTC is now directed to 1.6x accumulation, i.e. 1.6 -350 DMA, which is currently $ 124,000. Therefore, despite the price consolidation, BTC will probably create another price based on the multiplier price model.
Interestingly, when bitcoins moves near or above this level, it often signals the end of the accumulation phase and the beginning of stronger stubborn trends. Therefore, BTC achieving USD 124,000 would only pave the way for further price benefits in accordance with the lofty goals of some market analysts.
BTC miners gain USD 18.60 million
In other messages, another best cryptographic analyst, Ali Martinez, Reports The fact that miners have recently used the impressive Bitcoin price rally, implementing almost $ 18.60 million profits because prices increased by USD 94,000.
This realized enhance in profits emphasizes that early miners strategically accept profits at these high price levels. It is worth noting, however, that Bitcoin retains a forceful stubborn rush, despite this sales pressure, powered by many factors, including forceful inflows to ETF.
At the time of writing, BTC was valued at USD 94,393, which reflects the price drop by 0.76% on the last day.
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