Bull Case For Bitcoin At $300,000 Triggers After | Crypto News
Bitcoin’s efficiency in current days has been nothing short of notable with an spectacular rally. The main cryptocurrency has managed to surge past $124,000 this week to register a new all-time high of $124,128 in the past 24 hours, according to CoinGecko data. Interestingly, technical analysis from a crypto analyst recognized pseudonymously as Stockmoney Lizards predicts that Bitcoin is now approaching a crucial section that will ship its price over $300,000 by 2026.
Bitcoin Reaches Pivotal Phase In Long-Term Trend
Stockmoney Lizards shared a long-term Bitcoin macro chart that combines a price channel with a momentum oscillator in a post on the social media platform X. The analysis, which was executed on the 2-week candlestick timeframe chart, exhibits that Bitcoin has been trading upwards within a rising parallel channel since 2012, with major cycle tops touching the channel’s higher resistance line.
Recent price motion has seen the Bitcoin price climbing toward the midline of the channel. According to the analyst, this is the most crucial section, and the current motion suggests it’s about to repeat impulsive waves to the upside like both the 2018 and 2021 bull runs.
Furthermore, the analyst pointed to a bounce on the oscillator at the underside of the chart, very like it did in 2017 and 2020 before the rallies in the next 12 months. This oscillator, mixed with current technical components, has led the analyst to forecast a potential base Bitcoin price goal of $180,000 to $200,000 by early 2026, while leaving open the chance of an even stronger rally.
Path To A $300,000 Bull Case
Although Stockmoney Lizards famous that Bitcoin has matured and its market habits is no longer a excellent mirror of past cycles, the market still has room for a “my-neighbor-just-asked-me-about-Bitcoin” sort of frenzy section. This stage, which goes to be characterised by a surge in mainstream retail curiosity, would be the one to generate the needed parabolic price surge for the larger bull case.
If such a situation unfolds, the analyst projected that Bitcoin’s bull case might lengthen past $300,000 before the current macro cycle peaks. Interestingly, the chart projection exhibits a price goal as high as $350,000.
Bitcoin is already up by about 107% in the past 12 months. Its rally in the past weeks is based on a few components ranging from expectations of Federal Reserve price cuts to regulatory inexperienced lights for cryptocurrencies in retirement plans. A surge to $300,000 and $350,000 by 2026 would translate to another 145% and 188% increase, respectively, from the current price stage.
At the time of writing, Bitcoin is trading at $121,685, up by 1.8% in the past 24 hours. It has retraced by 1.9% from its new all-time high of $124,128 about seven hours in the past.
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