Main Points:
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Bitcoin’s momentum will continue to accelerate above $ 113,000, leading entrepreneurs to predict a rally at $ 150,000.
Bitcoin (Btc) make a new all-time high More than $ 113,788 On Thursday, and many analysts were expected to continue the support. 10x head head Markus Thielen told cointelegraph that BTC has a 60% probability of increasing more than 20% In the next two months.
Milk Road co-founder Kyle Reidhead is more optimistic, Projecting a target of $ 150,000 For BTC in his post on X.
Can BTC continue to continue, or will it be destroyed at a new time high prove a bull trap? Let’s review the charts to find out.
BTC price prediction
Bitcoin broke up above $ 110,530 resistance on Wednesday and hit a new all-time high at $ 113,788 on Thursday. However, the Bears are expected to cause a solid challenge near the neckline of the opposite head-and-shoulders pattern at $ 113,800.
Consumers need to drive the price above the neckline to complete bullish setup. That will remove the path for a possible rally in the target pattern of $ 150,000.
Sellers are likely to have other plans. They will try to pull the price below $ 110,530. If they succeed, the BTC/USDT pair can slide into moving averages.
It is expected that consumers will defend moving averages to all of them due to a break below the 50-day simple transfer of average ($ 106,774) can speed up the sale. That will also develop a negative difference -Different to the Kamag -child index of strength (RSI), which signed a deeper correction to $ 100,000.
Related: Bitcoin Treasury companies get record 159,107 BTC in Q2
Bulls are trying to keep the price above the breakout level of $ 110,530. If they manage that, the pair can challenge the overhead resist to $ 112,000. This is an important close resistance to guard as a break above $ 112,000 can push the pair to $ 116,571.
The first sign of weakness would be a break below $ 110,530. That suggests booking revenue through short-term buyers. Bears will try to strengthen their position by pulling the price below the 50-sma. If they could pull it out, the pair could fall to $ 107,000 and then to $ 105,000.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
