Bitcoin Enters Path to $200,000 ATHs as Analysts Mark Two Bullish Indicators on the BTC Price Chart
- Bitcoin sets another new ATH marks significant breakout of a megaphone pattern.
- Analysts believe BTC has now entered the path to $200,000 ATHs.
- Another bullish indicator is the breakout of the Bitcoin Golden Ratio Multiplier.
Bitcoin (BTC), the pioneer crypto asset, set its latest ATH at $108,268.45 setting its third ATH in a row. The last three days saw new BTC ATH every day. This is somewhat similar to last month when BTC set around 7 new ATHs in under 25 days. Similar to the last ATH set then, BTC seems to have slipped into another healthy correction phase taking BTC price to $104,000 price range.
Bitcoin Breaks Past Another Bullish Indicator
This is likely why the overall crypto market sentiment is slightly lower than yesterday’s, still we remain in the ‘Extreme Greed’ phase. This bullish phase mirrors the many expectations of seasoned analysts who expect the price of BTC to hit $110,000 in the coming days and $125,000 to $135,000 in the coming months.
#Bitcoin Breaks Out of the Megaphone Pattern! 🚀
A major move that could ignite the next leg up for #BTC. pic.twitter.com/z6MYbasrwm
— Titan of Crypto (@Washigorira) December 17, 2024
Analayst Believes BTC is Heading to $200,000 Prices Next
Despite BTC’s current short price dip, Bitcoin (BTC) hit a major bullish signal when it set its latest ATH price. As we can see from the post above, Bitcoin breaks out of a bullish megaphone pattern marking a significant move for Bitcoin. With this breakout Bitcoin can move to setting the next level of higher highs for this ongoing bull cycle.
#Bitcoin Golden Ratio Multiplier Breakout! 💥🚀#BTC is finally breaking above the blue line 🔵.
Next target: the red line 🔴🧲. pic.twitter.com/OS0HM8Cvyp
— Titan of Crypto (@Washigorira) December 17, 2024
The next leg up for Bitcoin price is further recognized by another seasoned analyst. As we can see from the post above, this analyst highlights the Bitcoin Golden Ratio Multiplier Breakout. Based on the graph shared in the post above, this analyst says that Bitcoin seems to finally be breaking above the blue line and expects the next target to arrive in the red line in the $200,000 price range.
