Crypto analyst Weslad predicts Bitcoin could reach $105,764 as the next price target, supported by an "Ascending Channel" technical pattern. While he forecasts strong bullish momentum, he advises investors to prepare for a potential corrective move to a buy-back zone between $91,000 and $92,000. Bitcoin currently trades at $99,072.
Quick Analysis of the Situation
In the dynamic world of cryptocurrency, Bitcoin (BTC) continues to captivate investors with its volatility and growth potential. TradingView analyst Weslad, known for his accurate predictions, has set a new target of $105,764** after Bitcoin’s recent all-time high of **$99,000.
Welcome to the Bull Market
The bull market is officially here, marked by rising prices and bullish sentiment. Weslad’s analysis confirms Bitcoin’s upward trajectory, fueled by technical patterns and market optimism.
The Ascending Channel: A Bullish Signal
Weslad’s prediction hinges on the "Ascending Channel"—a technical pattern formed by two upward-sloping trendlines. This indicates sustained bullish momentum, with Bitcoin poised for higher highs.
Key Takeaways:
- Next Target: $105,764
- Buy-Back Zone: $91,000–$92,000 (ideal for strategic entries)
- Immediate Profit Target: $97,537 (short-term gains)
- Mid-Term Target: $100,334
Chart Analysis: A Closer Look
Weslad’s 4-hour chart reveals:
- Bitcoin’s price action within the ascending channel.
Critical Levels:
- Demand Zone: $91,000–$92,000 (strong support).
- Buy-Back Zone: $94,327.99 (opportunistic entry point).
Current Market Snapshot
- Bitcoin Price: $99,072 (+12.73% in 7 days).
- Upside Potential: A 6.83% rise could breach $105k.
FAQs
1. What is an Ascending Channel?
An ascending channel is a bullish chart pattern formed by higher highs and higher lows, signaling upward momentum.
2. Why is $91,000–$92,000 important?
This range acts as a demand zone, where buyers historically step in, making it a strategic entry point.
3. Should I invest now or wait for a dip?
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4. What’s the short-term outlook?
Weslad’s immediate profit target is $97,537, suggesting potential gains for traders.
5. How reliable are these predictions?
While technical analysis provides insights, always pair it with fundamental research and risk management.
6. What if Bitcoin corrects?
A dip to $91,000–$92,000 could offer a high-reward entry before the next rally.
Conclusion
Bitcoin’s journey to $105k looks promising, backed by technical patterns and market optimism. Whether you’re a trader or long-term holder, staying informed is key.
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Disclaimer: This content is for informational purposes only. Cryptocurrency investments are volatile—conduct your own research or consult a financial advisor.