Bitcoin Price Expected to Break All-Time High This Week

This week, Bitcoin’s price is expected to surpass the all-time high set in July at $123,236.

Over the weekend, bulls once again started pumping BTC’s price, pushing it up to $122,177. Analyst Michaël van de Poppe had predicted that the coin’s value would correct after reaching $120,000, but he was wrong, as the upward trend continued. As a result, we are likely to see a new peak for the digital asset in the near future.

Since 2023, Bitcoin’s price has been moving within a broadening ascending channel, suggesting that after breaking the previous price high, the bull rally might not stop until the cryptocurrency reaches the upper boundary of the pattern near $141,000. This would represent a 16% increase from the current level.

However, a more conservative scenario suggests a price increase only to $130,000. This is because there is a strong resistance zone at that level, which will be difficult to break on the first attempt. As a result, the upward move could stall, limiting BTC’s growth to $130,000 before a downward correction begins. In this case, the $141,000 target might still be reached, but later—likely closer to the end of autumn.

See also: "Bitcoin Price Today: Surges to $122K, Nearing All-Time High"

#Bitcoin (BTC) #Price Increase

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