Bitcoin (BTC) has surged past the $110,000 mark following a critical breakout above $108,900, positioning itself for a potential new all-time high of $130,000.
Analyst Michaël van de Poppe predicted on June 10 that the current phase is likely a short consolidation period, a common pattern before increased upward momentum.
The ideal buying range as BTC prepares for what could be another historic run, van de Poppe suggests, sits around $107,000 to $108,000.
Bitcoin’s 14-day relative strength index (RSI) currently sits at 6771, which is bullish but not yet overheated.
Michaël van de Poppe’s BTC analysis. Source: X
If the RSI retests 75 by the end of the month, another analyst PlanB suggests, the June closing price for BTC would be ~$130,000, agreeing with van de Poppe’s predictions.
Bitcoin price forecast
The rally can apparently be chalked up to a number of reasons, most notably a sharp technical breakout. Namely, BTC reclaimed the 23.6% Fibonacci retracement
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