Bitcoin Price Predictions: BTC Could Rally to $170,000 As Upper Band Moves Above $105,400

Crypto analyst Tony Severino has provided some insights into the current Bitcoin price action. He revealed that the Bitcoin upper hand has moved above

Crypto analyst Tony Severino has hinted at where Bitcoin could be heading next as its upper band moves above $105,400.

What Happens Next As Bitcoin Upper Band Moves Above $105,400?

In an X post on December 14, Severino revealed that Bitcoin's upper band is now above $105,400. Following this development, he directed his followers to a previous analysis in which he discussed what could happen once BTC breaks above $105,400.

In the analysis, the crypto analyst stated that things could get interesting once BTC breaks above $105,400. He then predicted that Bitcoin could rally to as high as $170,000. The analyst made this prediction while revealing how BTC witnessed a 90% surge from the wick low at the lower band to the local high.

This occurred the last time the flagship crypto got a head fake to the lower band before moving to the upper band. Continuing with this trend, Severino believes the Bitcoin price could record another 90% surge and rally to as high as $170,000. This price target is significant as it could mark the top for the flagship crypto.

The crypto analyst mentioned that the cycle top for Bitcoin can be discussed once BTC reaches this $170,000 target. However, market experts like Standard Chartered have suggested that Bitcoin could rally beyond this $170,000 target. The financial institution predicted that a rally to $200,000 by year-end is achievable.

Bernstein analysts also described a rally to $200,000 by year-end as conservative, indicating that Bitcoin could rally higher. This bullish outlook for Bitcoin is mainly driven by the fact that Donald Trump is set to take office on January 20. The pro-crypto US president-elect is expected to introduce a Strategic Bitcoin Reserve for the country, which will boost the flagship crypto’s adoption.

BTC Not Far Away From A New All-Time High

Crypto analyst Rekt Capital has hinted that Bitcoin will soon reach a new all-time high (ATH). In an X post on December 14, he stated that BTC is one daily resistance away from breaking out to a new ATH yet again.

The crypto analyst added that a daily close above the final resistance followed by a post-breakout retest would be enough to launch the flagship crypto into price discovery. Until then, Rekt Capital said that Bitcoin will continue to range between $101,000 and $106,000.

Crypto analyst Titan of Crypto offered a more bullish outlook for the BTC, stating that the flagship crypto has begun its rally. He remarked that, as anticipated, the crypto has broken through resistance and is now poised for a strong rally.

At the time of writing, Bitcoin was trading at around $103,509, up in the last 24 hours, according to data from CoinMarketCap.