Bitcoin Price Could Rally to $150K in This Bull Run, Analyst Predicts

Crypto analyst TradingShot had predicted before that the Bitcoin price could rally to as high as $150,000 in this bull run. With the flagship crypto now close to the $100,000 milestone, the analyst has charted Bitcoin's current price action and provided insights into how the crypto could reach this $150,000 target by 2025.

Crypto analyst TradingShot had earlier predicted that the Bitcoin price could rally to as high as $150,000 in this bull run. With the flagship cryptocurrency now close to the $100,000 milestone, the analyst has charted Bitcoin’s current price action and shared his insights on how the crypto could reach this $150,000 target by 2025.

Bitcoin’s Current Price Action And Road To $150,000

In a TradingView post, TradingShot stated that the Bitcoin price is now off the 0.786 to 1.0 Fibonacci range, where it consolidated from March 2024 to October 2024. The analyst highlighted how the breakout in October was largely due to the US presidential elections and the euphoria after Donald Trump won.

Related Reading: Fantom Price Breakout: Analyst Shares Anatomy Of FTM’s 18,000% Move To $150 By 2025

TradingShot noted that the Bitcoin price is only one month outside this range and already much higher. He pointed out that last month’s candle was similar to those of November 2020 and May 2017. Notably, those periods marked the start of the “most aggressive rallies of those bull cycles.”

The analyst stated that the Bitcoin price was at a 71.5° angle between May and December 2017. In the 2021 cycle, Bitcoin was at a 68.5° angle (3° lower) between November 2020 and April 2021. If this happens to be a trend, TradingShot remarked that it is safe to assume that the 2024/2025 parabolic rally could be at a 65.5° angle (-3° from the previous cycle).

In line with this, TradingShot said that this gives the Bitcoin price a potential target of $300,000 as early as May 2025 if the crypto records a double top cycle like in 2021. However, the crypto analyst asserted that the $150,000 target is “very plausible” from a technical analysis perspective since it is just below the top of a multi-year channel he highlighted on the chart.

BTC’s Next Move Still Unclear

Despite this bullish prediction for the Bitcoin price, crypto analyst Kevin Capital has suggested that BTC’s move is still unclear. He stated that while Bitcoin has a lot of liquidity to the downside of about $88,000, the real bulk of liquidity is still around the $100,000 to $103,000 range. Based on this, the analyst said that it is best to sit back and watch what comes next.

Related Reading: Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means

Meanwhile, crypto analyst Mikybull Crypto has suggested that the Bitcoin price may experience a cooling-off period in the meantime. This came as he revealed that the sell signal has flashed on Bitcoin’s dominance for the first time since 2020. In line with this development, he stated that it is officially altcoin season.

Related Reading: Blockchain Center Data: It Is Indeed Altcoin Season As BTC Underperforms 75% Of Top 50 Coins

Blockchain center data shows that it is indeed altcoin season. In the last 90 days, 75% of the top 50 coins by market cap have outperformed the Bitcoin price. With this being altcoin season, Bitcoin could cool off while altcoins record parabolic rallies.

At the time of writing, the Bitcoin price is trading at around $95,600, down in the last 24 hours, according to data from CoinMarketCap.