Cryptocurrency analyst Tara highlighted the bullish pattern that has recently formed on the Bitcoin chart. It also revealed how high the flagship cryptocurrency can soar in its next stage of growth. Moreover, her analysis indicated this Bitcoin may soon enter a parabolic phase this market cycle.
“Major Impulse” is on the horizon for Bitcoin
Tara mentioned in X (formerly Twitter) post that he believes that Bitcoin will soon make a major impulse move that will take its price to $75,800, which is up-to-date all time (ATH) for a cryptographic token. She made this remark while revealing that “the full ABCDE on pricing and RSI has been completed.”
According to her, Bitcoin has just broken the resistance in the market Relative Strength Index (RSI) and completed the retest breakout level at $67,800. This development is significant because it suggests that Bitcoin may soon enter the market parabolic phase this cycle. Rekt Capital cryptocurrency analyst recently claimed that Bitcoin is one breakout away from entering this phase, while highlighting the $70,000 range as a level to overcome.
Crypto analyst Michael van de Poppe he also highlighted $70,000 as the BTC price level needs to break through to reach the up-to-date ATH. Meanwhile, if Bitcoin reaches $75,800 as Tara predicts, it will mean that the flagship cryptocurrency has entered an “escape velocity phase” that could prepare it for further upward moves.
Crypto analyst James Check (also known as Checkmatey) taken over that Bitcoin can achieve this escape velocity phase shift of $73,000. Moreover, BTC hitting this up-to-date ATH is also significant as it could push the flagship cryptocurrency up to $100,000 during this uptrend.
Crypto Jebb cryptocurrency analyst mentioned that there is a “high probability” that Bitcoin will reach a price of $100,000 if it breaks through the current ATH of $73,800. Interestingly, he made this remark by emphasizing inverted head and shoulder pattern which could push the price of Bitcoin to $75,000.
btc heads to $85,000 in the next stage of growth
Mikybull Crypto cryptocurrency analyst also presented a bullish narrative for Bitcoin, stating that a megaphone pattern has formed on the BTC chart with a price target of $85,000. He also added that this breakout will happen soon. Previously an analyst emphasized A widened wedge which formed on the daily BTC chart and noted that “the breakout is closer than you think.”
Meanwhile, cryptocurrency analyst Ali Martinez he also outlined how BTC could soon rise to $79,600. He stated that Bitcoin is currently oscillating around the +0.5σ price band for $66,800 and that the flagship cryptocurrency will likely test the 1.0σ price band at $79,600 if it manages to stay above that level.
