While Bitcoin (BTC) is consolidated above the significant milestone of $ 100,000, previously a difficult level of resistance to violation, market analysts closely monitor its potential for new price increases and the possibility of new heights of All times (Aths).
A critical threshold of $ 109,000 to shoot in the near future for the main cryptocurrency of the market, but the clock could check while experts warn against an imminent bear market which could emerge in just three months.
The analyst warns the market for imminent bear for bitcoin
The market expert and technical analyst Ali Martinez has raised concerns in a recent publication on social networks on X (formerly Twitter), based on the historical models observed after the events of half of Bitcoin.
The analyst suggests that Bitcoin and the wider market of cryptocurrencies could enter a bear cycle in approximately 90 days. This prediction is based on the cyclic nature of the movements of Bitcoin prices, especially during the years in half, which have historically been followed by important corrections.
As we saw in the graph above, Martinez underlines that the examination of the total days of each cycle in half of the BTC reveals a striking resemblance to the previous cycle between 2012 and 2016, which lasted 367 days before D ‘Enter a lower market.
Currently, Bitcoin and the wider market of cryptocurrencies are 276 days in this cycle, which suggests that a slowdown could be closer than certain investors await it.
Will prices reach $ 200,000 before the drop?
A more in -depth analysis of Martinez incorporates the Wyckoff method, a technical analysis framework that identifies market cycles.
According to this method, Bitcoin can approach its last step before entering the distribution phase, a period of consolidation before a drop in prices.
In this phase, Ali Martinez predicts that the BTC price could be negotiated between $ 140,000 and $ 200,000 before living a significant drop to the $ 100,000 level.
But despite these warning forecasts, Martinez also notes that there remains a short -term growth potential. He makes comparisons with the 2015-2018 cycle, saying that the action of bitcoin prices at this stage shares striking similarities with this period, which ultimately led to parabolic price increases.
In addition, multiple Mayer, a metric that is equivalent to the Bitcoin surbound conditions, is currently examined. Historically, the multiple Mayer indicated the vertices of the market when Bitcoin is negotiated above the 2.4 oscillator.
Currently, this level is nearly $ 182,000, which suggests that Bitcoin still has room for growth before reaching a peak in the potential market this cycle.
At the time of writing the time of the editorial staff, the largest cryptocurrency by market capitalization is traded at $ 102,900, down more than 1.5% within 24 hours a day.
Dall-e star image, tradingView.com graphic
