A trading expert predicts that this week could be pivotal for Bitcoin, potentially triggering a parabolic rally as the cryptocurrency consolidates below the $95,000 level. The expert notes that Bitcoin's current cycle is resembling the 2014-2017 market structure, opening the possibility of reaching a $200,000 target. The analysis identifies accumulation phases and similarities to previous price movements that preceded Bitcoin's 2017 rally. The expert suggests that if Bitcoin continues to follow the 2017 pattern, it could reach at least $200,000 by late 2025. However, short-term potential for a parabolic rally depends on Bitcoin's ability to breach key price levels, with breaching the $95,000 resistance being crucial for targeting further gains. Another analyst expects a potential correction that could bring Bitcoin's price below $90,000 before it rises to $150,000. At the time of writing, Bitcoin is trading at around $91,170 and has dropped almost 3% in the last 24 hours.



Other News from Today