The cryptocurrency analyst who accurately predicted Bitcoin’s price rising to an all-time high of $99,000 (ATH) has just released a more detailed analysis of his predictions. The analyst shared a chart highlighting the key point technical indicators and price movements that suggest the cryptocurrency may be preparing for even higher ATH.

The analyst expects the next price target to be $105,000

Weslad, TradingView analyst, yes lifted up his Bitcoin price forecast for another upside target of $105,764 as the cryptocurrency bull market gathers pace. The analyst reported that BTC has officially entered the market bull market phasecharacterized by edged price increases and positive market sentiment.

Its recent Bitcoin price bullish forecast is based on a key technical pattern known as “Growing channel”, which indicates a continuation of the upward trend. This chart pattern consists of two ascending trend lines drawn parallel to each other, representing resistance and support price levels respectively.

Despite the bullish attitude towards BTC priceWeslad revealed that investors should expect corrective move towards a direct repurchase zone, which would constitute an optimal entry point for opportunistic buyers. The analyst also shared a detailed price chart that highlights the bullish upward channel and key price levels that Bitcoin could reach in the compact and long term.

An overview of an analyst’s analysis of the Bitcoin price chart

In his 4-hour Bitcoin chartWeslad visualizes the cryptocurrency’s price action in an ascending channel, highlighting that BTC is moving upwards within two trend lines. The analyst provided a detailed action plan for his $105,764 bullish target for Bitcoin price.

Weslad highlighted the $91,000 to $92,000 price range as an “important demand zone” that acts as sturdy support where buyers will likely step in if BTC continues to decline. He also revealed that the price level of $94,327.99 has been identified as the “immediate overbought zone”, which also serves as an optimal entry point if BTC experiences any corrective withdrawal at its price.

The analyst also identified $97,537 as an “immediate earnings target,” suggesting investors may consider locking in profits at this critical near-term price level. He also set a “medium-term target” for Bitcoin’s price, emphasizing that the mid-term level of $100,334 is crucial for investors holding longer positions.

Finally, Weslad highlighted $105,764 as the “projected final target” for Bitcoin, indicating that it could be the final target in the current market cycle. For BTC to reach this bullish price target, it would only require a modest 6.83% upside from its current value. At the time of writing Bitcoin price According to CoinMarketCap, the price is $99,072, up 12.73% over the last seven days.

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