A CryptoCon analyst recently alluded to Bitcoin’s “golden multiplier,” which he suggested paints a very bullish picture for the market Bitcoin price. Based on this, the analyst noted that the party is just getting started, indicating that the flagship cryptocurrency is likely to go much higher.

Bitcoin’s golden ratio multiplier indicates that the price is rising

In post X, CryptoCon highlighted how Bitcoin’s gold multiplier factor indicates that the price is rising much higher. He cited level 5 of the gold ration multiplier, which he said has dual operate for intermediate and cyclists. The analyst mentioned that Bitcoin formed a mid-high of 5 in March this year when it made its previous high highest level ever (ATH) $ 73,000.

CryptoCon further mentioned that it seems likely that Bitcoin will reach this level again before this market cycle ends. The analyst added that the Level 5 range has increased to $122,000 and continues to rise. As such, he noted that the party is just getting started, pointing out that Bitcoin’s rally could still go much higher and even reach This goal $ 122,000.

In an earlier post, X CryptoCon also used the Magic Bands indicator to provide insight into Bitcoin’s price action and the heights it could reach in this bull run. He said Bitcoin is racing to reach Magic Bands Level 3 at $98,720. He added that the bands will rapidly raise upwards as they adjust to volumes beyond ATH.

Based on this the analyst said that bicycle mountain the target is currently $134,000 and the price of Bitcoin could raise by $1,000 per week. CryptoCon noted that the peak of the cycle is expected in slow 2025. This means that the bands have plenty of time to expand towards higher prices, which indicates that the price of Bitcoin could rise higher.

BTC prepared to regain local highs

Cryptocurrency analyst Credibull crypto stated that Bitcoin price looks poised to move to local highs unless the $87,700 level is breached. The analyst also mentioned that a clear and impulsive move above the local highs of $93,800 would push Bitcoin above $100,000, making the possibility of a drop to $72,000 unlikely until the next bear market.

However, if this clear and impulsive move does not occur, CrediBull Crypto stated that this would mean that the move is corrective and increases the chances of retesting the range between 70,000 and $ 72,000 exponentially higher. He suggested that BTC could even fall below $70,000.

At the time of writing, Bitcoin is trading at around $91,200, up almost 4% in the last 24 hours, according to data from CoinMarketCap.

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