Analyst Eyes $72K Bitcoin on Bullish Chart Pattern, Predicts End of the Year BTC Price

2023-10-12 20:30

Crypto YouTuber Crypto Rover highlighted an emerging head and shoulders pattern on the Bitcoin chart that could propel the price back toward its all-time high if it activates.

In a recent tweet, Rover pointed out the developing head and shoulders formation taking shape on the Bitcoin weekly chart. This bullish reversal pattern has a measured move target around $72,000 if the neckline is broken, presenting sizable upside potential.

Rover remains cautiously optimistic about Bitcoin’s near-term prospects. In a follow-up post, he predicted an end-of-year price range between $32,000 and $42,000 for BTC.

However, looking ahead to the next halving-driven bull market in 2024–2025, Rover sees Bitcoin reaching between $150,000 and $180,000 at its peak. This aligns with other analyst forecasts.

While muted in the short term, Rover’s analysis underscores lingering bullish expectations for the 2025 bull run. And if the inverse head and shoulders pattern triggers a breakout, Bitcoin could rapidly appreciate toward its former ~$69K all-time high from here.

As usual, Bitcoin requires a catalyst to transition from consolidation to a new bull market. But the charts suggest potential fireworks if buying pressure overrides current inertia. Rover’s technical perspective highlights lingering upside scenarios once market conditions align.

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The post Analyst Eyes $72K Bitcoin on Bullish Chart Pattern, Predicts End of the Year BTC Price appeared first on CaptainAltcoin.

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Источник: captainaltcoin.com

chart bitcoin → Результатов: 126


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