The price of Bitcoins still maintains over 100,000 USD, despite the accident just before the weekend. Since then Jumped from $ 104,000suggesting that bulls are at this main psychological level. Now, when the cryptographic market was sitting on what looks like a critical point, there are questions about the next step from here. Can Bitcoin still accumulate or is this the end of a fairly low and disappointing bull market?

The Bitcoin price still has a long way

Cryptowalus Doctor Profit analyst was a vocal voice when it comes to the stubbornness of the Bitcoins price. He still calls for higher prices, even when a wider community expects the cryptocurrency to fall from here. In fact, the cryptographic analyst believes that the leading crypto can see its double price, despite the fact that it has already reached many up-to-date highest all time.

In the position on X, Doctor’s profit explained The reasoning of this and why he thinks that the price of Bitcoins is still taking place. The first thing he pointed to was the fact that a uncommon Golden Cross appeared on the Bitcoin price chart. It happened three weeks ago and then the analyst called out the formation of charts, explaining that it meant that Bull Run did not end.

This is because every time Bitcoin flashed with a golden cross in the past, it was the beginning of another huge run. Like now, for the first time there is a 10% decrease in price, which was achieved when Bitcoin dropped from USD 111,900 to USD 100,000. Now, when it seems that the first part of the trend has been met, the expectations are that other parts will be played similarly.

In addition, he explains that Bitcoin has also created his slash, from which he now wants to break free. AND A successful break will restore it above $ 108,000 When it is preparing for the next level.

Macro factors that confirm the thesis

Chart techniques not only show this possible recovery, but the upcoming data of the consumer price indicator (CPI), which are to be issued on Wednesday, also play in this. Doctor Profit explains that Wall Street is already expecting CPI to be 2.5%, or rather a gigantic number.

Instead, he believes that CPI will be lower, putting it between 2.1% and 2.3%. The lower number would mean that there is a slowdown in inflation, enabling space to take more risk and pushing markets, such as wrestling and higher cryptographic.

There is also a matter of a negative financing indicator, which suggests There are more shorters on the market At the moment, expecting the refueling price. Data from Coumingss can be seen The Bitcoin financing indicator has fallen into one of the lowest levels this year, and the analyst claims that this is a sign of a well market.

“In general, I see a strong trend, and the markets will continue to grow for the first goals between 108-110k, and this is definitely not the end,” said Dr. Profit. “The Golden Cross promises us from 70-170% of profits in the coming months!”

A distinguished picture from Dall.e, chart from tradingview.com