Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’
13 Juin 2024 - 11:00PM
NEWSBTC
Despite the price crash after rising to $69,000, the Bitcoin price
remains in the game, with bulls continuing to hold up the support
above $67,000. Bullish sentiment also continues to prevail, with
the market still being fairly greedy amid expectations that the
pioneer cryptocurrency is gearing up for a significant price jump
from here. Bitcoin Can Still Make A 35% Jump Crypto analyst
CryptoCon has revealed that Bitcoin still has a ways to go before
the cycle top is in. In the analysis posted on X (formerly
Twitter), the crypto analyst revealed that the digital asset is yet
to reach Level 3 of the Magic Bands, so the top is not in yet.
Related Reading: Historical Trends Suggest Shiba Inu Price Will
Rally 1,000% To $0.00024, Analyst Reveals When The analyst points
to previous bull cycles where the Magic Bands had been fully
completed before the top was finally in. For the whole band to be
completed, there are four levels in total. However, the current
cycle is still only in the 2.5 level, which means there is still a
ways to go. The next major level from here is the Level 3 Magic
Band, which usually comes with a surge in price. Following the
completion of the Level 2 that saw the price reach a new all-time
high above $72,300, the cryptocurrency is now testing the
resistance at the Level 2.5, where a break is needed. If the
Bitcoin price is able to break this resistance, the crypto analyst
sees a 35% surge to $91,500 sometime in 2024. “Taking some time to
reach it at Level 3 of the Magic bands, but it’s the next step,”
the crypto analyst stated. $91,539 target left untouched and
unchanged for #Bitcoin. Taking some time to reach it at Level 3 of
the Magic bands but it’s the next step. All in due time…
pic.twitter.com/Pwimj05ZQb — CryptoCon (@CryptoCon_) June 12, 2024
When Will The BTC Price Top? Using CryptoCon’s Magic Bands
analysis, it is possible that the Bitcoin cycle top is still far
away. As the crypto analyst shows, even after hitting the Level 3
magic band, there is still Level 4 left to go, which is what
usually marks the cycle top. Related Reading: Crypto Analyst
Predicts Cardano Price Will Rally 370% To $2, Here’s The Timeline
This means after hitting $91,500 at the top of Level 3, there could
be consolidation before the Level 4 Magic Band is completed. When
this happens, the crypto analyst expects the BTC price to actually
touch above $123,000 before the cycle top is in. If CryptoCon’s
analyst is anything to go buy, then Bitcoin still has another 100%
move from from its current price before the bull market is over.
The cycle top is expected to hit sometime around 2026, according to
the analyst. Presently, the BTC price is still being held up by
bulls who have continued to endure an onslaught from sellers.
Despite falling 4.3% in the last week, it is still trading at
$67,900 at the time of this writing.
Cardano (COIN:ADAUSD)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Cardano (COIN:ADAUSD)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024