Following the steep corrections seen in late July, the Bitcoin market made a modest recovery in the past week, rising by 2.73% according to data from CoinMarketCap. However, another rejection amidst this price resurgence forces the premier cryptocurrency to now trade within the $116,000 price region. While the crypto market awaits the token’s next move, cumulative trading activity signals potential for a major price surge to a new all-time high.
Golden Ratio In Sight: Bitcoin Targets $131K After Volume Shelf Hold
In an X post on August 8, popular financial market analyst Donald Dean shares an interesting bullish price prediction on the Bitcoin market. Based on the existence of a volume shelf on the BTCUSDT daily chart, Dean tips the crypto market leader to soon attain a $131,000 market valuation.
By way of explanation, a volume shelf refers to a price level where a significant amount of trading activity/volume has occurred. In the chart above, this level of trading is i
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