Bitcoin Price Analysis: Analyst Predicts New All-Time High of $77,600
Bitcoin Price Expected to Surge to New All-Time High, Analyst Predicts
After a period of retracement following its all-time high in March 2024, Bitcoin is showing signs of a bullish reversal on the charts. Crypto analyst “Melikatrader94” on TradingView has predicted that the leading cryptocurrency could soon hit a new all-time high of $77,600.
Chart Analysis Points to Bullish Momentum
In her analysis, Melikatrader94 highlighted the breakout of Bitcoin from a descending trend line as a key indicator of a potential price surge. This breakout suggests a return of bullish pressure, paving the way for Bitcoin to push towards its previous all-time high.
The analyst also noted multiple confirmations on the chart, indicating a strong rally following the breakout. While corrections may occur along the way, the overall trajectory for Bitcoin appears to be upward.
Targets for Bitcoin Price
With the breakout from the descending trend line, Melikatrader94 believes that Bitcoin could reach a new all-time high of $77,604. However, the path to this milestone is likely to encounter significant resistance levels.
One major hurdle is the $70,000 mark, where a downward correction could occur. If Bitcoin surpasses this level, the next challenge lies at reclaiming its previous all-time high above $73,400, with further resistance at $73,612.
According to the analyst’s prediction, Bitcoin could experience a 15% price jump from its current level if it reaches a new all-time high. This development would also have positive implications for the broader crypto market, as Bitcoin’s movements often influence the prices of other cryptocurrencies.
As investors eagerly await Bitcoin’s next move, the cryptocurrency market remains on edge, anticipating a potential surge to new heights.
