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The outstanding crypto -analyst Burak Kesmeci has typed Bitcoin (BTC) to realize a price goal of USD 124,000, based on data from the multiplier price model of the golden ratio. This bullish prediction takes place after a powerful price thrust last week, which points out that the leading cryptocurrency can have more room for immediate price growth.
Can Bitcoin return to the 1.6 -fold battery speaker?
In an X -Post on April 26, Burak Kesmeci informed the newest updates for the multiplier price for Bitcoin -Golden, whereby data from Bitcoin Magazine Pro. For the context, the multiplier model of the golden ratio uses movable average values ​​and fibonacci conditions to discover when BTC could also be overvalued or undervalued, which significantly signal possible market tops or good accumulation options.
According to the next table, Bitcoin recently tested the 350 Daily Moving Average (350dMA) with $ 77,000. As the name suggests, the 350dMA is pursuing the common price of BTC within the last 350 days and acts as a very important support zone. Touching or just under this level often signals a possible long -term purchase option.
Bitcoin recently recovered from his 350dMA after a prices of $ 75,000 of two subsequent price ranges as much as 96,000 US dollars.
Source: @burak_kesmeci on
In accordance with the value bands within the golden multiplier ratio, BTC is now high for 1.6 -fold accumulation, ie the 1.6 -fold of the 350 DMA, which is currently $ 124,000. Therefore, despite the continued price consolidation, BTC is more likely to generate a special price rally, which relies on the value model of the golden multiplier.
Interestingly, Bitcoin, when Bitcoin is nearby or above this level, often signals the tip of a accumulation phase and the start of a stronger bullish trend. Therefore, BTC, which reaches the 124,000 US dollars, would only pave the way in which for further pricing in accordance with the high destinations of some market analysts.
BTC Mountains make a profit of 18.60 million US dollars
In other messages, one other top crypto -analyst, Ali Martinez, reports that the miners recently benefited from the impressive price rally from Bitcoin and have made profits of just about $ 18.60 million than rising the costs of over 94,000 US dollar.
This profit tip realized emphasizes that early miners strategically make profits at these high price levels. However, it’s price noting that, despite this sales pressure, Bitcoin maintains a robust bullish dynamic, which is powered by several aspects, including strong inflows in Spot ETFs.
At the time of writing, BTC has a price of 94,393 US dollars, which reflects a price drop of 0.76% last day.
BTC trade at 94,234 USD within the Daily Chart | Source: Btcusdt diagram on tradingview.com
Selected picture of Investopedia, Diagram from Tradingview
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