Bitcoin price prediction suggests that the final leg-up will confirm a significant rally towards $150,000. A recent Bitcoin price forecast indicates that the leading cryptocurrency requires merely one additional upward movement to initiate a significant bullish trend towards $150,000 and further. As Bitcoin approaches the threshold of new all-time highs, technical formations indicate that this anticipated rally may serve as the definitive confirmation of a long-term breakout.
A recent Bitcoin price analysis published by market expert CrediBull Crypto on X (formerly Twitter) forecasts that BTC is poised for a significant increase to $150,000. The analyst presented a Bitcoin price chart, employing Elliott Wave theory on the lower time frames to delineate the pathway to this new all-time high target. Bitcoin is presently exhibiting a 5-wave impulse move on the lower timeframe. The recent price action indicates that it has finalized sub-waves i, ii, iii, iv, and v, together constituting what seems to be Wave 1. Subsequent to this, the cryptocurrency underwent a collective pullback in Wave 2, which functioned as support and now acts as a launchpad for the forthcoming significant leg in Wave 3—the longest and most explosive wave in an impulse sequence.
If the next wave completes to the upside, it would strongly suggest that Bitcoin is not in a corrective pattern but rather an impulsive trend that could take it to a six-figure valuation once again. CrediBull Crypto has identified $89,000 as a pivotal threshold for Bitcoin. He suggested that if the cryptocurrency drops below this price zone before pushing higher, the Elliott Wave structure would likely transform into a 3-legged corrective pattern rather than a 5-wave impulse. This action suggests that the anticipated rally does not signify the beginning of a macro breakout, indicating that the market might need to exercise patience for a confirmation.
Conversely, maintaining a position above $89,000 and achieving a higher high would finalize the expected last leg upward, confirming the initiation of the significant Wave 3 on extended time frames. This optimistic outlook would endorse a robust accumulation strategy, wherein price declines might present opportunities to purchase as Bitcoin aims for $150,000 or higher. According to recent data shared by crypto analyst Ali Martínez, Bitcoin’s Market Value to Realized Value (MVRV) ratio has established a Golden Cross with its 365-day Simple Moving Average (SMA). The analyst has presented a positive perspective for Bitcoin, emphasizing that this technical occurrence could ignite the forthcoming BTC bull rally.
The Bitcoin chart, published via CryptoQuant, illustrates the MVRV ratio rising above the long-term Moving Average. An increasing MVRV ratio generally indicates that BTC holders are once more experiencing profits, and the prevailing sentiment is transitioning from bearish to bullish. The last time this crossover occurred, Bitcoin saw a multi-month rally that pushed its price to new all-time highs.