Although Bitcoin (BTC) has corrected after hitting an all-time high above $125,000, an analyst has noted that technical indicators suggest there is still room for the asset to reach $160,000 in the coming months.
As of press time, Bitcoin was trading at $124,874, up about 1.2% in the last 24 hours, and has rallied over 10% in the past week.
Bitcoin one-week price chart. Source: Finbold
Now, according to insights from TradingShot, Bitcoin’s move toward the $125,700 record high confirmed a breakout above a long-standing resistance level.
In a TradingView post on October 6, the expert indicated that this level turned into strong support, reinforcing the ongoing bull cycle pattern.
Bitcoin price analysis chart. Source: TradingView
The outlook noted that Bitcoin is forming a series of higher lows within a clear ascending trend line, supported by the 50-week moving average (MA).
This setup indicates continued upward momentum, mirroring the bullish phase observed in August
We współpracy z: https://finbold.com/analyst-sets-date-when-bitcoin-will-trade-at-160000/
