Bitcoin Price Above $100,000 Again? Chart Patterns Show What’s Coming Next
16 Marzo 2025 - 6:30AM
NEWSBTC
Crypto analyst Madden has raised the possibility of the Bitcoin
price rallying above $100,000 again, providing a bullish outlook
for the flagship crypto. His analysis showed what is coming next
for BTC and how it could reach this psychological price
level. Related Reading: 200 Million XRP On The Move—Is Ripple
Preparing For A Big Play? Bitcoin Price Eyes Rally Above $100,000
With Potential Bullish Reversal In a TradingView post, Madden
indicated that the Bitcoin price was eyeing a rally above $100,000
with a reversal looking likely. His accompanying chart showed that
$91,700, $102,700, and $109,356 are potential price targets which
BTC could hit as it reverses to the upside. A rally to $109,356
would mark a new all-time high (ATH) for the flagship crypto.
The crypto analyst alluded to some charts with important levels and
relevant patterns to determine if the reversal is confirmed for the
Bitcoin price. On the daily chart, he highlighted a Deep-Crab
harmonic and Wolfe wave pattern to identify the reversal points.
The Deep Cran pattern showed that BTC likely bottomed out when it
touched $76,600, with the reversal now in play. Madden also
alluded to the CME daily chart for the Bitcoin price. He noted that
there is a daily retest of the 200-day moving average (MA) and that
the CME gap between $77,000 and $80,000 has been filled, indicating
there is no reason for BTC to drop that low again. Meanwhile, the
crypto analyst added that BTC is currently above the 2022 and 2024
top support line. BTC Roadmap Moving Forward As part of his
analysis, Madden also provided a roadmap and future outlook for the
Bitcoin price. His accompanying chart showed that the flagship
crypto could top at around $125,000 in this market cycle. Based on
the chart, BTC will reach this price target by year end. Crypto
expert Willy Woo also once suggested that Bitcoin could reach this
target, as he described it as conservative. The chart also
showed that the Bitcoin price could enter into a bear market by
2026, dropping from the projected peak of $125,000 to as low as
$40,000. This price drop to $40,000 could happen before 2026
ends. In the meantime, the bullish reversal for the Bitcoin
price is the major focus of market participants. Crypto analyst Ali
Martinez stated that BTC is breaking out. He added that the target
is $90,000 as long as the $84,000 support holds. Crypto
whales are already positioning themselves for the potential
reversal of the Bitcoin price to $90,000. Martinez revealed that
these whales have bought over 20,000 BTC in the last 48
hours. Related Reading: Bitcoin And S&P Decline Together,
But Data Predicts A Turnaround At the time of writing, the Bitcoin
price is trading at around $84,500, up over 3% in the last 24
hours, according to data from CoinMarketCap. Featured image
from Pexels, chart from TradingView
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