Last month, Bitcoin (BTC) prices showed a slight boost in range of range from 103,000 to 110,000 USD.
Since the establishment of a fresh level of all time in the amount of USD 111,931 at the end of May, the most critical cryptocurrency has witnessed a significant sales level to obtain a further level of price discovery.
Among the current market of the popular salesman from the 10th nickname Trader Tardigrade still supports the stubborn Bitcoin potential with another convincing price forecast.
Bitcoin bull round too far – analyst
In x post On June 14, Trader Tardigrade shares the captivating analysis of the Bitcoin market, indicating that the flagship cryptocurrency still has greater price benefits based on historical price data.
Using the BTC Daily Trading Chart, Tardigrade notices the recent creation of the Golden Cross, because the 50-day straight average movable (50SMA) has exceeded the 200-day straight movable average (200 s) among the recovery of assets in the last two months.
Source: Trader Tardigrade/X
In the context of Golden Cross is one of the most common stubborn formations that indicate a extensive price. It occurs when a tiny -term movable average movement above the long -term movable average, which indicates a potential shift from consolidation or down to a mighty level of growth.
From 2023, three cases of the Golden Cross SMA 50/200 have brought a significant price boost of 49%, 125%and 68%.
Passing through this price history, Tardigrade postulates the latest Golden Bitcoin tips to reach a market price of at least USD 152,000, which is a potential boost in 44.7% of current market prices in a worse scenario.
However, in stubborn circumstances, the analyst provides that the most critical cryptocurrency can trade up to USD 229,000, which reflects a possible price boost of 118% compared to the current valuation of the asset component.
Tardigrade explains the feasibility of these forecasts, noting the recent Bitcoin boost, which obtained about 47% compared to April. In particular, Bitcoin prices increased by 656%because the current market cycle began at the end of 2022.
Bitcoin price review
At the time of writing, BTC is valued at USD 105,552 after 0.20% profit on the last day. The flagship cryptocurrency also maintains green performance in longer time frames with profits of 0.03% and 1.41% on weekly and monthly lists.
Despite these positive numbers, the last Bitcoin price operations showed signs of fatigue, and the narrowing of profit margins reflect the phase of consolidation and side movement over the past week.
However, this coolant did not suppress the appetite of investors. In particular, the ETF Bitcoin market Mighty reflectionBy registering net revenues by USD 1.37 billion last week, after two consecutive weeks of total net outflows worth $ 286.81 million.
BTC crosses above $105,000 on the daily chart | Source: BTCUSDT on TradingView.com
Recommended photo from Istock, chart from TradingView
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