Crypto analyst Cupra has revealed that Bitcoin has printed a historical aggressive recovery setup, signaling that a rally to the upside may be on the horizon. The analyst predicted that BTC could rally to a new all-time high (ATH) of $150,000 as the next bull phase approaches. Bitcoin Prints One of the Most Aggressive Setups In Years In an X post, Cupra stated that Bitcoin has just printed one of the most aggressive recovery setups that the market has seen in years. He noted that such a setup played out in 2019 after months of “pain,” which then led to a 282% explosive move for BTC. Now, the same structure is playing out, with the analyst noting a similar reset but with even more liquidity. Related Reading: Bitcoin Just Deviated From The Bearish Trend That Began In January And $86,000 Could Be Next Cupra noted that this is not a coincidence, as this is how the bull run starts, with sentiment destroyed while liquidity builds and smart money begins to position. He added that the market is about to shock everyone and that a Bitcoin rally to $150,000 is not a “meme” but the next phase. His accompanying chart showed that BTC could also rally to a cycle peak of $420,000. In another X post, the analyst doubled down on his assertion that Bitcoin could soon see a parabolic reversal to the upside. He noted that 35 bars are up while 12 bars are down, which is the “perfect cycle structure.”Cupra added that every time this happens, a massive expansion follows. Cupra also revealed that Bitcoin has just completed the 12-bar reset and that this is the launch zone. In line with this, he declared that the next leg will be violent and won’t be a “normal pump.” The analyst added that the parabolic phase is starting now. BTC Still At Risk Of A Decline Crypto analyst Colin has predicted that Bitcoin remains at risk of a decline despite claims that the leading crypto has formed a bottom. He highlighted a bear flag on his chart, suggesting BTC could rally above $77,000 in the short term following the 2-week ceasefire agreement between the U.S. and Iran. However, the leading crypto is likely to continue its downward momentum after this relief bounce. Related Reading: Bitcoin Golden Cross Trend Enters Flow State: Why The Next 2-3 Weeks Are Important Crypto analyst Aralez warned market participants to be careful with any Bitcoin trades right now. He noted that price is sitting in a key zone after clearing a large liquidity shelf and that locally, the structure still looks bullish. However, there are two main things to monitor now, which are whether the market will show weakness soon and if the price will stall in a range. At the time of writing, the Bitcoin price is trading at around $71,000, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
Crypto analyst Kabuki has explained why the Bitcoin rainbow chart shows that the price range is above $60,000. The analyst noted that BTC is mirroring past cycles and suggested that a base may be forming soon for the leading crypto. Bitcoin Rainbow Chart Shows Why Price Is Ranging In an X post, Kabuki said that Bitcoin is stuck between $65,000 and $68,000 for a reason and that this isn’t random but simply BTC repeating history. He noted that in 2017, a base formed, which led to a parabolic expansion. The same happened in 2021, which again led to a parabolic expansion. Related Reading: Major Catalysts To Watch Out For That Could Send Bitcoin Price To $90,000 Kabuki stated that the same structure is playing out again for Bitcoin this time around and that this range is an accumulation phase before the breakout. His accompanying chart showed that the leading crypto is likely to rally as high as $400,000 in the next bull cycle, with a top likely in 2029. Meanwhile, the chart also confirmed that a bottom may be forming soon, with the current range a good buy zone. However, Kabuki suggested that there is still the possibility of Bitcoin dropping to $42,000. In another X post, he said that BTC is perfectly following a descending channel pattern with the drop from its all-time high (ATH) around $125,000. The analyst predicted that the leading crypto could drop from $69,000 to $42,000 as this bearish pattern continues to play out. He added that lower highs plus more lower highs will lead to the last shakeout before the rally to $200,000. BTC Back Inside The Bear Flag In an X post, crypto analyst Colin stated that Bitcoin is back inside the bear flag, providing optimism about a bullish reversal. However, he warned that the highest the market may see is a short-term BTC rally to $80,000 if the U.S.-Iran war actually ends. The analyst added that Bitcoin will have to prove itself by first breaking above the resistance levels immediately ahead. Related Reading: Here’s Why The Bitcoin And Ethereum Prices Could Keep Crashing This Week Colin reiterated that any short-term pump in Bitcoin will eventually be sold off and that the downtrend will resume in time. As such, he opined that any pump will be a chance to offload heavy positions rather than as a shot at new ATHs. The analyst also agreed with another analyst’s view, noting that the broader trendline is looming despite Bitcoin’s return within the channel. The analyst stated that there will be a true change in structure only if BTC breaks this trendline. He added that this could happen at lower levels, but that it is hard to say this was the bottom range. At the time of writing, the Bitcoin price is trading at around $68,700, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com