Bitcoin Price Prediction: Analyst Charts Roadmap To $117,000, What You Should Know

Quick Summary:

Technical analysis of the Bitcoin price action on the weekly candlestick timeframe shows that the leading cryptocurrency is on the path to a price target of $117,000.  An analyst on the TradingView platform has outlined a detailed roadmap for Bitcoin’s journey to this $117,000 price target, highlighting a series of key price zones and market cycles to watch out for.

Momentum And Resistance Levels On The Way To $117,000 Technical trend analysis shows that Bitcoin has been trading in an ascending channel in a weekly candlestick timeframe since Q4 2024, with the price steadily climbing within the channel.

Related Reading: Bitcoin Price Above $100,000 Renews Hope, Analyst Reveals The Cycle Top A rebound is expected from here, which would send Bitcoin on another move toward the upper trendline.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United KingdomChina

Topics: Ascending Channel BTC news Btc Bitcoin price Btc price Bitcoin Bitcoin news BTCUSDT Btcusd Bitcoin Harmonic Fibonacci Projection tool

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-28 @ 15:30:31 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Sentences: 68 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 25583348

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 11 hours ago

Coverage Areas: United Kingdom

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