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Crypto pundit Crypto Michael, who correctly called the Bitcoin price surge from $15,400 to $100,000, has revealed what is next for the flagship crypto. Based on his revelation, Bitcoin still has enough room in this market cycle before its price peaks.
What Next For The Bitcoin Price
In an X post, Crypto Michael stated that when the Bitcoin price breaks $108,000, it will ignite a parabolic rally of immense proportions. The analyst seemed confident in this happening as he revealed how he had literally called every Bitcoin move since the $15,000 bottom to perfection. He also noted that his target since BTC was at $15,000 was the $108,000 trendline, which was hit.
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However, he believes that the Bitcoin price isn’t done yet, and he advised market participants to be ready for the parabolic rally that could come once BTC breaks $108,000. Although the crypto pundit believes Bitcoin has more room to rally to the upside, he failed to reveal how high the flagship crypto could go once it breaks above $108,000.
Meanwhile, in another X post, Crypto Michael predicted that the next leg up should begin soon for the Bitcoin price, a move that could lead to a break above the $108,000 resistance. The analyst suggested that this move will likely happen soon, noting that his Bitcoin fractal has played out to perfection so far.
Indeed, the Bitcoin price could be ready for its next leg up. Crypto analyst Ali Martinez revealed that capital inflows into the crypto market are starting to pick up. $6 billion has been added in the past week, which the analyst noted is a sign of renewed momentum. The first step would be for Bitcoin to reclaim the $100,000 price level, which could lead to higher prices.
$116,000 Could Be The Next Stop For BTC
Crypto analyst Titan of Crypto suggested that $116,000 could be the next stop for the Bitcoin price. In an X post, he revealed that the asset is currently forming a symmetrical triangle. The analyst added that a breakout to the upside could send the flagship crypto to $116,000. The analyst had before now predicted that BTC could rally to as high as $180,000 in this market cycle.
Crypto analyst Crypto Jelle also suggested that the Bitcoin price could rally to as high as $116,000 on its next leg up. He noted that BTC’s local downtrend had been broken and retested. He then raised the possibility of the flagship crypto reclaiming the $100,000 level. His accompanying chart showed that $108,000 would be the resistance level to break if BTC reclaims $100,000. Once it breaks $108,000, then a rally to $116,000 looks imminent.
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At the time of writing, the BTC price is trading at around $98,300, up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com
