Bitcoin is displaying patterns analogous to its former bull cycles. As per the crypto analyst Ali, following exceeding its new ATH, Bitcoin sees a consolidation, with a potential to rise to the $150K spot within the next couple of days. The analyst took to social media to discuss Bitcoin’s bullish prospects. These words have a come at a time when Bitcoin is having an exceptional pump and made multiple all-time highs during the last 13 days.
Bitcoin’s Current Consolidation Signifies Its Likely Rise to $150K Within a Couple of Days
Ali asserted that, despite entering a consolidation phase after its recent bull market, Bitcoin can still resurge to reach $150,000. This bold anticipation for the top crypto asset indicates its noteworthy price progress in the next two days. The current consolidation signifies a provisional halt before a major explosion that will potentially drive Bitcoin toward the next target. This pattern has often occurred in the past bull cycles. Hence, within the upcoming couple of days, Bitcoin can touch the $150,000 spot.
Despite the Anticipation of $150,000, Bitcoin Could Face a Sheer Correction, Pulling It Down to $105,000
Simultaneous with the anticipation of $150,000, the analyst also cautions about the possibility of a sharp correction afterward. To support the argument, the analyst pointed toward the historical market instances where sheer corrections took place following enormous spikes. In this respect, a pullback of up to thirty percent has often occurred in Bitcoin’s history.
Such a development has most of the time served to calm down the overbought conditions before the further surge. In the present situation, if Bitcoin reaches the $150,000 mark, a thirty percent price correction could lower its price to nearly $105,000.
While Bitcoin reflects the dynamics of the former bull runs, investors and traders keenly watch for the impending breakout. According to the analyst, although the $150,000 target is attractive, the possibility of a substantial correction denotes the significance of risk management. However, it remains to be seen if Bitcoin will repeat its history. Nonetheless, its present price trajectory highlights that the token may be getting into another thrilling era of volatility and growth.
