Cryptocurrency analyst Tony Severino provided some information on Bitcoin’s current price action. He revealed that Bitcoin’s lead has surpassed $105,400 and hinted at where the flagship cryptocurrency could be headed next.

What next for the Bitcoin price when the upper band exceeds $105,400?

In Post XSeverino revealed that Bitcoin’s upper limit is currently above $105,400. In talking about this, he referred to a previous analysis in which he revealed what could happen when the price exceeds $105,400. In the analysis, the cryptocurrency analyst mentioned that things could get intriguing at some point BTC breaks above $105,400.

Then he predicted it Bitcoin may rise up to $170,000. The analyst made this prediction, revealing that BTC saw a 90% escalate from its low band low to its local high. This happened the last time the flagship cryptocurrency rigged the lower band before moving to the upper band.

Based on this trend, Severino believes that the price of Bitcoin could see another 90% escalate and go as high as $170,000. This price target is significant because it could mark a high for the flagship cryptocurrency. A cryptocurrency analyst mentioned that bicycle mountain in the case of Bitcoin, it will be possible to discuss when BTC reaches the target level of $170,000.

However, market experts such as Standard Chartered have suggested that Bitcoin could exceed the target level of $170,000. The financial institution has predicted that a escalate to $200,000 by the end of the year is achievable. Bernstein analysts also described a rise to $200,000 by the end of the year as conservative, which means Bitcoin could rise higher.

This bullish outlook for Bitcoin is mainly due to the fact that Donald Trump is scheduled to take office on January 20. The pro-crypto US president is expected to implement a strategic Bitcoin reserve for the country, which will accelerate adoption of the flagship cryptocurrency.

BTC near modern all-time high

Cryptocurrency analyst The capital of Recht suggested that Bitcoin will soon reach a modern all-time high (ATH). In the post, X stated that BTC is one daily resistance away from breaking out to a modern ATH again. The cryptocurrency analyst added that a daily close above final resistance followed by a retest after a breakout would be enough for the flagship cryptocurrency to enter a price discovery phase.

Until then, Rekt Capital mentioned that the price of Bitcoin will continue to range between $101,000 and $106,000. Cryptocurrency analyst Cryptocurrency titan presented a more positive outlook for BTC, stating that the flagship cryptocurrency has started rising. He noted that, as expected, the cryptocurrency has broken resistance and is now poised for robust growth.

According to Bitcoin data, it was trading around $103,509 at the time of writing, which is up over the last 24 hours. data from CoinMarketCap.

Featured image from Pexels, chart from TradingView