{"id":625162,"date":"2024-06-18T19:00:56","date_gmt":"2024-06-18T19:00:56","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=625162"},"modified":"2024-07-10T11:17:16","modified_gmt":"2024-07-10T11:17:16","slug":"analysts-bullish-call-bitcoin-primed-for-massive-jump-to-127000","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/analysts-bullish-call-bitcoin-primed-for-massive-jump-to-127000\/","title":{"rendered":"Analyst&#8217;s Bullish Call: Bitcoin Primed For Massive Jump To $127,000"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:262\">nquestionably the king of cryptocurrencies, Bitcoin finds itself caught between optimistic whispers and negative roars. While some experts point to technical signals suggesting a price increase, others caution of possible dangers hiding under the surface.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/metrics-signal-bitcoin-price-increase-but-when-is-anyones-guess\/\" target=\"_blank\" rel=\"noopener \">Metrics Signal Bitcoin Price Increase \u2013 But When Is Anyone\u2019s Guess<\/a><\/div>\n<h2 data-sourcepos=\"5:1-6:100\"><strong>Bulls See Bullish Flags And Futures<\/strong><\/h2>\n<p data-sourcepos=\"5:1-6:100\"><span id=\"input-sentence~0\">Technical analysers are naturally interested people.<\/span><span id=\"input-sentence~1\"> Speaking in a language of charts, patterns, and indicators, they interpret the mysterious market moves. One such signal, the bullish flag pattern, has some analysts\u2014like Gert van Lagen\u2014cautiously hopeful.<br \/>\n<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> [2D] &#8211; The handle of the 3Y+ Cup with Handle itself qualifies as a bullflag targeting $127k.<\/p>\n<p>Price clearly has broken out of and successfully retested the flag for support.<a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> is ready for the next leg up \ud83d\udcc8<\/p>\n<p>Invalidation setup: close below$60k <a href=\"https:\/\/t.co\/5fDkeubpvT\" rel=\"nofollow\">pic.twitter.com\/5fDkeubpvT<\/a><\/p>\n<p>\u2014 Gert van Lagen (@GertvanLagen) <a href=\"https:\/\/twitter.com\/GertvanLagen\/status\/41577450?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 16, 2024<\/a><\/p><\/blockquote>\n<p><span id=\"input-sentence~2\">Based on recent price movement, this trend points to a possible price rise; Bitcoin is consolidating inside a particular range before a possible breakthrough.<\/span><span id=\"input-sentence~3\"><br \/>\n<\/span><\/p>\n<p>Lagen said BTC had successfully tested the support. If that is right, then Bitcoin might start a bull run soon and hit $127,000 in the next weeks or months.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-625163\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/A_39f027.png?resize=447%2C776\" alt=\"\" width=\"447\" height=\"776\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/A_39f027.png?w=447 447w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/A_39f027.png?w=265 265w\" sizes=\"(max-width: 447px) 100vw, 447px\"><\/p>\n<p data-sourcepos=\"8:1-8:362\"><span id=\"input-sentence~3\">Future investors seem to be dominated in buying enthusiasm, so fueling the optimistic fire.<\/span><span id=\"input-sentence~4\"> Futures contracts let investors gamble on the future value of an asset; in this case, many seem to be betting on the increase of Bitcoin. This could lead to a self-fulfilling prophecy since rising prices draw even more customers by driving purchase.<\/span><span id=\"input-sentence~5\"><br \/>\n<\/span><\/p>\n<h2 data-sourcepos=\"10:1-10:52\"><strong>A Worrying Trend?<\/strong><\/h2>\n<p data-sourcepos=\"13:1-13:354\"><span id=\"input-sentence~5\">Concurrent with this, on-chain data\u2014which follows<a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" rel=\"nofollow\"> Bitcoin&#8217;s<\/a> blockchain movement\u2014showcases a worrying tendency. Deposits to exchanges have surged, suggesting investors are shifting their Bitcoin to sites where it might be readily sold. This points to a possible selling frenzy just around the corner, which would cause the price to be pressured down.<\/span><span id=\"input-sentence~6\"><br \/>\n<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/AjntLET0\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">BTC is currently trading at $65,625. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h3 data-sourcepos=\"15:1-16:385\"><strong>Bitcoin Short-Term Outlook<\/strong><\/h3>\n<p data-sourcepos=\"15:1-16:385\"><span id=\"input-sentence~6\">Bitcoin&#8217;s near future seems dangerously poised on a tightrope. Currently bearish technical indicators including RSI, CMF, and MACD, which gauge momentum and investor strength, point to ongoing price drop.<\/span><span id=\"input-sentence~7\"><br \/>\n<\/span><\/p>\n<p data-sourcepos=\"15:1-16:385\">This fits the forecasts of some analysts who, should the bearish trend persist, Bitcoin would drop as low as $60,000 in the next days.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/polkadot-dot-struggles-at-6-20-is-now-the-time-to-accumulate\/\" target=\"_blank\" rel=\"noopener \">Polkadot (DOT) Struggles Near $6.30 \u2013 Is Now The Time To Accumulate?<\/a><\/div>\n<p data-sourcepos=\"18:1-18:36\"><span id=\"input-sentence~7\">For the bulls, there is a bright future though.<\/span><span id=\"input-sentence~8\"> Analysers estimate an initial advance to $67,650 if Bitcoin can buck the bearish indications and become positive. The balance between purchasing pressure and any possible selling frenzy will probably determine this transient price fluctuation.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"20:1-21:285\"><em>Featured image from YouTube, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>nquestionably the king of cryptocurrencies, Bitcoin finds itself caught between optimistic whispers and negative roars. While some experts point to technical signals suggesting a price increase, others caution of possible dangers hiding under the surface. Related Reading: Metrics Signal Bitcoin Price Increase \u2013 But When Is Anyone\u2019s Guess Bulls See Bullish Flags And Futures Technical analysers are naturally interested people. Speaking in a language of charts, patterns, and indicators, they interpret the mysterious market moves. One such signal, the bullish flag pattern, has some analysts\u2014like Gert van Lagen\u2014cautiously hopeful. $BTC [2D] &#8211; The handle of the 3Y+ Cup with Handle itself qualifies as a bullflag targeting $127k. Price clearly has broken out of and successfully retested the flag for support.#BTC is ready for the next leg up \ud83d\udcc8 Invalidation setup: close below$60k pic.twitter.com\/5fDkeubpvT \u2014 Gert van Lagen (@GertvanLagen) June 16, 2024 Based on recent price movement, this trend points to a possible price rise; Bitcoin is consolidating inside a particular range before a possible breakthrough. Lagen said BTC had successfully tested the support. If that is right, then Bitcoin might start a bull run soon and hit $127,000 in the next weeks or months. Future investors seem to be dominated in buying enthusiasm, so fueling the optimistic fire. Futures contracts let investors gamble on the future value of an asset; in this case, many seem to be betting on the increase of Bitcoin. This could lead to a self-fulfilling prophecy since rising prices draw even more customers by driving purchase. A Worrying Trend? Concurrent with this, on-chain data\u2014which follows Bitcoin&#8217;s blockchain movement\u2014showcases a worrying tendency. Deposits to exchanges have surged, suggesting investors are shifting their Bitcoin to sites where it might be readily sold. This points to a possible selling frenzy just around the corner, which would cause the price to be pressured down. Bitcoin Short-Term Outlook Bitcoin&#8217;s near future seems dangerously poised on a tightrope. Currently bearish technical indicators including RSI, CMF, and MACD, which gauge momentum and investor strength, point to ongoing price drop. This fits the forecasts of some analysts who, should the bearish trend persist, Bitcoin would drop as low as $60,000 in the next days. Related Reading: Polkadot (DOT) Struggles Near $6.30 \u2013 Is Now The Time To Accumulate? For the bulls, there is a bright future though. Analysers estimate an initial advance to $67,650 if Bitcoin can buck the bearish indications and become positive. The balance between purchasing pressure and any possible selling frenzy will probably determine this transient price fluctuation. Featured image from YouTube, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":625219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1144,6664,1742],"class_list":["post-625162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-digital-currency"],"acf":[],"yoast_head":"\n<title>Analyst&#039;s Bullish Call: Bitcoin Primed for Massive Jump to $127,000<\/title>\n<meta name=\"description\" content=\"nquestionably the king of cryptocurrencies, Bitcoin finds itself caught between optimistic whispers and negative roars. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.\",\"sameAs\":[\"jomarjet01\"],\"url\":\"https:\/\/shenyangcang.com\/author\/jomarjet01\/\"}]}<\/script>\n","yoast_head_json":{"title":"Analyst's Bullish Call: Bitcoin Primed for Massive Jump to $127,000","description":"nquestionably the king of cryptocurrencies, Bitcoin finds itself caught between optimistic whispers and negative roars. 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