Bitcoin Price At $245,000? Here’s When You Should Be Expecting It
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Este artículo también está disponible en español. Considering Bitcoin’s steady bullish momentum following Donald Trump’s win in the US Presidential elections, a crypto analyst believes that continuing this upward trend could see the Bitcoin price hit $245,000 this cycle. The analyst has provided the timeline for this mega price leap, utilizing logarithmic chart patterns and historical data to back his optimistic projection. When Bitcoin Price Will Hit $245,000 TradingView crypto analyst Behdark has released a report that provides a technical overview of the recent Bitcoin price trends and potential future movements. This detailed analysis is based on a two-week (2W) time frame on a chart that presents complete data on the Bitcoin price action. Related Reading Source: TradingView Looking at the Bitcoin chart, Behdark highlighted that the pioneer cryptocurrency was moving within a valid price channel, where the midline and resistance trend lines of the channel are drawn from previous highs. These trendlines point to a potential price target between $245,000 and $250,000 by 2025. The analyst acknowledged that he had previously set a medium—to long-term price target of $169,000 for Bitcoin, but has modified his projection to $245,000. At the time of writing, Bitcoin is trading at $95,107, marking a slight 2.18% decline in the last 24 hours. If the cryptocurrency increases to $245,000, it would represent a massive 157% price surge from its current value. Behdark’s optimistic projections of Bitcoin are based on analysis from logarithmic charts and price channels, which are particularly useful in analysing cryptocurrencies. These charts help identify sustainable market trends for a cryptocurrency over medium—to long-term periods. Moving forward, the analyst revealed that Bitcoin has successfully broken and surpassed critical resistance levels between the $77,000 and $78,000 range, indicating a shift in market sentiment. This previous resistance range has now transitioned into a price…
Filed under: News - @ December 2, 2024 5:21 pm