Bitcoin flashes signal that could ‘explode to targets’ above $200,000
The post Bitcoin flashes signal that could ‘explode to targets’ above $200,000 appeared on BitcoinEthereumNews.com.
With Bitcoin (BTC) consolidating above $80,000, historical trends suggest the maiden digital currency could be building momentum for a major breakout, potentially targeting $200,000 next. The possibility of this long-term target is supported by Bitcoin’s position above its one-week moving average 50 (1W MA50). This level has consistently acted as an anchor for bullish breakouts, according to analysis by online trading expert TradingShot. In a TradingView post on March 21, the analyst noted that Bitcoin’s historical cycles follow a familiar pattern: a bear market bottom, an initial rally attempting to break above the “all-time high lower highs” trendline, and a steady climb within a ‘growth channel.’ This channel has repeatedly served as a stepping stone, guiding BTC higher until it eventually breaks out, triggering a parabolic rally. Bitcoin price analysis chart. Source: TradingView/TradingShot Currently, Bitcoin is on the verge of such a breakout, with the only remaining resistance being the ‘growth channel’ ceiling. If Bitcoin clears this level, it could pave the way for a surge toward $200,000 or beyond. According to TradingShot, even if Bitcoin continues growing within the channel before breaking out, a move toward $150,000 remains realistic. However, if history repeats itself, a breakout could lead to exponential gains driven by unprecedented adoption and capital inflows. “This is the only resistance level that has yet to be broke on this cycle. If it does, the market will explode to targets above $200,000 that will start putting it to capitalization levels that would require earth shattering catalysts in terms of adoption,” the analyst noted. The 1W MA50 remains a key support throughout this process, reinforcing Bitcoin’s bullish trajectory. As reported by Finbold, TradingShot had projected that Bitcoin could target $150,000 in September 2025. Bitcoin’s path to $90,000 As things stand, Bitcoin still has a long way to go…
Filed under: News - @ March 22, 2025 4:29 pm