As Bitcoin (BTC) seeks to build momentum toward the $100,000 mark, a trading expert has suggested that the asset is destined for a high of $180,000, though with increased volatility along the way.
In this context, according to analysis by prominent online trading expert TradingShot, Bitcoin is likely to undergo a correction before reaching a new high, as the digital asset has already entered a new bear cycle following its October all-time high.
Highlighting this outlook, in a TradingView post on January 7, the analyst leveraged the weekly chart, where price action shows Bitcoin consolidating between the 50-week and 100-week moving averages (MA), a structure that has consistently appeared in past bear markets after an initial rejection from the 50-week average.
Bitcoin price analysis chart. Source: TradingView
This phase has historically preceded a deeper corrective leg before a durable bottom is formed.
TradingShot also noted that prior bear-cycle lows have aligned with lo
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