Bitcoin traded just above $121,000 on Wednesday, holding onto gains after a drop from a recent peak above $126,000. According to analyst Egrag Crypto, a small market move could trigger a much larger rally, building on a pattern he says has repeated across past cycles.
Historic Channel Breakouts
Egrag’s view is based on a three-month look at price channels that, he argues, have preceded major rallies. Based on reports, similar channel breakouts were visible before the 2013 surge to about $1,163, the 2017 rise past $19,000, and the 2020–2021 rally that pushed prices above $69,000.
He says the current channel began forming in April 2022, and that a modest “blip” upward could push Bitcoin to $175,000. That target would require roughly a nearly 43% rise from $122,620. Short-term swings have ranged from $115,000 to $125,000 this week, while the present price sits near $121,900.
#BTC – $175K Is Just a Blip:
If we look at the historical behavior of #BTC on a 3-month tim
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-needs-only-a-minor-push-to-reach-175k-analyst/
