- Egrag Crypto predicts Bitcoin’s next market cycle could peak between $170K and $365K, based on key technical indicators.
- The Fib Circle Chart shows key levels, including $170K-$200K range, supported by the 10 MA’s strong market correlation.
- Bitcoin’s historical cycles, with increases of 460%, 1000%, and 500%, suggest a potential $365K peak.
Egrag Crypto predicts the Bitcoin (BTC) market cycle to be as follows, with predictions of the next cycle top between $170K – $365K. The analyst has analyzed a couple of technical factors to determine the trend analysis of the BTC price. This prediction has drawn the interest of the traders and the users of the cryptocurrencies as this might contain some clues for the direction of the market.
The analyst also intended to explain the Fib Circle Chart that can be utilized to make efficient predictions based on several indicators at once. First, the Fib 1618 level is the first important level, which might indicate the investment price of up to $171,000. The White Oblique Arc top edge also converge near $170K and the Fib Circle 1.888 also lies in this region.
Bitcoin’s Historical Cycles
The ideas behind these three indicators serve to support the price range of $170,000 to $200,000. In addition, the 10MA helps significantly in the analysis of the market situation. In the past, price movements below the 10 MA in the monthly chart have been in a good synchronization with price action.
Egrag also analyzed the history of Bitcoin price fluctuations to improve the forecast of future trends in its movements. The three previous cycles were characterized by a significant rise of the prices. During the previous cycle A, the increase was as high as 460% and in cycle B as much as 1000%.
However, in Cycle C, Bitcoin expanded by around 500%. The analyst used the lowest increase between the past and the current price action by relating the current market with these values. This means that because of the present cyclic pattern, Bitcoin could rise to $365,000.
Nevertheless, the outlook is guarded as follows: The three conclusions hint toward the more realistic value that stands in the range of $170,000 to $200,000 for the cycle top. Thus, the further behavior of the market and price dynamics may decide the fate of BTC.
Bitcoin’s Wild Card Scenario
Still, the likelihood of Bitcoin entering this range is not entirely impossible. The analyst also revealed a “wild card” option according to which the BTC price may reach $250,000 – $350,000.
Traders wait for the BTC to reach a particular level whereby it will break key barriers before it retests the levels. When it comes to the long-term forecasts, in the case when the Bitcoin will continue to rise, it may reach the higher limit of the range. On the other end, a price consolidation could just entail BTC ranging within the $180,000 – $200,000 mark.
Majority of the indicators that are used in the analysis paint the future of BTC in a positive light while having some reservations. The forecast gives proper guidance that can be derived based on previous share price trends and market patterns.