Bitcoin ($BTC) is presenting a huge potential for a price upsurge. As per a popular crypto analyst Javon Marks, Bitcoin’s historical price movement indicates a considerable likelihood for enormous gains in this bull market. The crypto analyst reflected on the current price trajectory of Bitcoin and the possibility for a huge upside.
Bitcoin Readies to Jump by 14% to Reach $113,386 as ‘Target 2’
Marks brought to the front that the present market cycle of Bitcoin could be substantially advantageous with massive upside. This suggests that the price of the top crypto asset is presently getting ready for a noteworthy rally. Particularly, the analyst anticipates a likely 14% spike from Bitcoin’s present levels. This could push the prominent crypto token above the $113,386 mark. The analyst labeled this price level as the “Target 2.”
The analyst stressed the current period as a crucial time for the further price movement of Bitcoin. During this phase, the flagship crypto token is gearing up for the upcoming heights. In this respect, the price action of Bitcoin is going in line with the former bull markets. While pointing toward the $113,386, Marks categorized it as a key resistance area for Bitcoin. Hence, if the crypto asset experiences a breakout from the respective zone, it could lead toward an even bigger upward momentum. Keeping this in view, breaching this spot will play a crucial role in Bitcoin upward journey.
Breaching $113,386 Mark Might Lead to New ATHs
According to Marks, the price movement above $113,386 will denote an extension phase. Subsequently, Bitcoin will possibly set exclusive ATHs. The analyst is confident that the current market scenario around Bitcoin highlights a solid position while it endeavors to reach the above-mentioned price levels. Thus, traders and investors express a significant optimism in Bitcoin while cautiously observing its likely surge to $113,386 and beyond.
