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After an uninspiring begin to June, Bitcoin investors asked themselves what comes for the world's largest cryptocurrency. Interestingly, crypto analysts were at all times a guiding light when the following direction of the Premier Cryptocurrency has uncertainty. Therefore, a outstanding market expert has presented an exciting projection for the Bitcoin price.
How the Bitcoin price could increase as much as $ 150,000
In a recent post on the X platform, the chartered market technician Tony Severino presented an interesting evaluation of the Bitcoin price. According to the crypto market expert, the BTC price in its next bullish phase might be as high because the mark of 150,000 US dollars.
The reasons for this bullish projection is the formation of a bull flag pattern within the each day time-frame of the Bitcoin price card. The bull flag is a technical evaluation pattern, which is characterised by a period of the steep upward movement (the flag mast), which is usually followed by the value campaign that’s geared toward the side or barely downwards.
The Bull is normally considered a predominant continuation pattern for an existing upward trend, which indicates a possible change to a better price point. However, it will be important to attend for a successful spread of consolidation before realizing that the value continues in its upward railway.
Source: @Tonythebullcmt on x
According to Severino, the Bitcoin price might be on the option to a brand new all-time high if this bull flag is valid and the value is successful from the pattern. The goal for this diagram pattern is normally added to the potential outbreak point by the flag by adding the vertical height of the flag mast.
What other indicators say
Severino emphasized one other indicator and explained what it was currently saying meaningful for Bitcoin's next leg. For example, the crypto expert mentioned that the Bollinger tapes press, which suggests that although there may be currently a volatility of the market, there may be a big price movement within the horizon.
Severino also mentioned that the Bitcoin price didn’t achieve the lower ribbon of the Bollinger -Band indicator of what a “head case” might be before the cryptocurrency of the flagship concerns a fresh upward run. However, investors will probably want to concentrate to the tip of the extent of 111,000 US dollars within the each day period as a way to confirm a possible persistent upward trend.
Closing under the lower gang, which is situated directly below the 101,000 US dollar brand, could suggest a downward motion for the Bitcoin price. At the current time, the value for BTC is over 105,000 US dollars, which reflects a rise of virtually 2% within the last 24 hours.
The price of BTC within the each day time-frame | Source: Btcusdt diagram on tradingview
Selected picture of iStock, Diagram by Tradingview
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