He suggested that Bitcoin reaching $109,000 by December 2024 will only likely happen if the "1-month-behind 2023” trend continues. Related Reading: XRP Price Enters Wave 3, Crypto Analyst Puts Top At $36.76 The analyst’s chart showed that Bitcoin has hit a local top this year, one month ahead of each local top in 2023.
Once again, this indicator has revealed the next local high for Bitcoin and when it will happen. When Bitcoin Will Reach A Local High Of $109,000 CryptoCon predicted in an X (formerly Twitter) post that the Bitcoin Fibonacci extension is set to push the flagship crypto over $100,000 as it rises to $109,236, a move which the analyst added could happen by year-end.
He stated that Bitcoin’s monthly candle closing at around $60,000 could be the consolidation before the "big bull breakout,” which would likely be the start of Bitcoin’s "big run” to $250,000. Related Reading: Dogecoin Major Metrics Fire Bullish Signals, Can Price Cross $0.5 The $250,000 price target is still below Cryptoquant CEO Ki Young Ju’s prediction that Bitcoin could achieve a market top of $265,000 in this market cycle.
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