{"id":664137,"date":"2024-12-18T12:00:33","date_gmt":"2024-12-18T12:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=664137"},"modified":"2024-12-18T11:12:32","modified_gmt":"2024-12-18T11:12:32","slug":"bitcoin-price-mirroring-2023","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-mirroring-2023\/","title":{"rendered":"Bitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH"},"content":{"rendered":"

Crypto analyst <\/span>Charting Guy<\/span><\/a> has provided a major update on the Bitcoin price action as BTC hit a new all-time high (ATH) at $108,000. The analyst drew similarities between the current price and that of 2023 while revealing what could happen next for the flagship crypto.\u00a0<\/span><\/p>\n

What Next As Bitcoin Price Mirrors 2023 Move<\/h2>\n

In an <\/span>X post<\/span><\/a>, Charting Guy revealed that the Bitcoin price is still following 2023. The analyst predicted that the flagship crypto could hit the $110,000 to $120,000 area on this leg up, with this surge expected to happen later this week or early next week. Bitcoin looks to already be on its way to this price target, having recently hit a new <\/span>ATH at $108,000<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What\u2019s Next In The Parabolic Trend<\/a><\/div>\n
\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n<\/div>\n

Charting Guy also predicted that the Bitcoin price would tap the resistance on the daily <\/span>Relative Strength Index (RSI)<\/span><\/a>, forming a triple bearish divergence, marking a slight local top for the flagship crypto. Once that happens, the analyst believes that Bitcoin will consolidate between $105 and $115,000 for a few weeks.\u00a0<\/span><\/p>\n

The Bitcoin price could then record a fakeout move up to the $125,000 to $130,000 range into Donald Trump\u2019s inauguration with a quick dump afterwards. Charting Guy predicts that this dump could maybe lead to a final retest of the $100,000 psychological level. Once that is done, Bitcoin could then begin the final leg up, starting from mid-February to the 1.618 Fibonacci level at around $170,000. The analyst opined that this could mark the <\/span>final cycle top<\/span><\/a>.\u00a0<\/span><\/p>\n

What Happens As BTC Consolidates<\/h2>\n

As the Bitcoin price consolidates from around Christmas to <\/span>Donald Trump\u2019s inauguration<\/span><\/a>, Charting Guy believes that altcoins will go \u201cabsolutely insane.\u201d The analyst also predicts that these altcoins will witness another parabolic rally roughly one month after Bitcoin tops in late March.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Price Crash Incoming? Tron\u2019s Justin Sun Unstakes $209 Million ETH From Lido Finance<\/a><\/div>\n

These <\/span>altcoins<\/span><\/a> are expected to rally higher while the Bitcoin price makes lower highs. Charting Guy noted that different altcoins could top at different times. Some could happen at the start of next year, some during the Inauguration, and others when BTC tops in March or possibly extend to April. The analyst is confident that all these altcoins will get a major top in the first quarter of next year, with an extension to April possible for some coins.\u00a0<\/span><\/p>\n

Charting Guy stated that the exact top for these altcoins will depend on each altcoin and its chart structure, wave count, <\/span>Fibonacci levels<\/span><\/a>, and other technical indicators. Specifically, the analyst highlighted LINK and XRP, stating that both coins could have their wave 3 topping in early Q1, with a wave 4 correction into the summer and a fifth wave higher high into August and September. The analyst added that the fifth wave isn\u2019t really guaranteed and is speculative.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price drops to $103,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Charting Guy has provided a major update on the Bitcoin price action as BTC hit a new all-time high (ATH) at $108,000. The analyst drew similarities between the current price and that of 2023 while revealing what could happen next for the flagship crypto.\u00a0 What Next As Bitcoin Price Mirrors 2023 Move In an X post, Charting Guy revealed that the Bitcoin price is still following 2023. The analyst predicted that the flagship crypto could hit the $110,000 to $120,000 area on this leg up, with this surge expected to happen later this week or early next week. Bitcoin looks to already be on its way to this price target, having recently hit a new ATH at $108,000.\u00a0 Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What\u2019s Next In The Parabolic Trend Charting Guy also predicted that the Bitcoin price would tap the resistance on the daily Relative Strength Index (RSI), forming a triple bearish divergence, marking a slight local top for the flagship crypto. Once that happens, the analyst believes that Bitcoin will consolidate between $105 and $115,000 for a few weeks.\u00a0 The Bitcoin price could then record a fakeout move up to the $125,000 to $130,000 range into Donald Trump\u2019s inauguration with a quick dump afterwards. Charting Guy predicts that this dump could maybe lead to a final retest of the $100,000 psychological level. Once that is done, Bitcoin could then begin the final leg up, starting from mid-February to the 1.618 Fibonacci level at around $170,000. The analyst opined that this could mark the final cycle top.\u00a0 What Happens As BTC Consolidates As the Bitcoin price consolidates from around Christmas to Donald Trump\u2019s inauguration, Charting Guy believes that altcoins will go \u201cabsolutely insane.\u201d The analyst also predicts that these altcoins will witness another parabolic rally roughly one month after Bitcoin tops in late March.\u00a0 Related Reading: Ethereum Price Crash Incoming? Tron\u2019s Justin Sun Unstakes $209 Million ETH From Lido Finance These altcoins are expected to rally higher while the Bitcoin price makes lower highs. Charting Guy noted that different altcoins could top at different times. Some could happen at the start of next year, some during the Inauguration, and others when BTC tops in March or possibly extend to April. The analyst is confident that all these altcoins will get a major top in the first quarter of next year, with an extension to April possible for some coins.\u00a0 Charting Guy stated that the exact top for these altcoins will depend on each altcoin and its chart structure, wave count, Fibonacci levels, and other technical indicators. Specifically, the analyst highlighted LINK and XRP, stating that both coins could have their wave 3 topping in early Q1, with a wave 4 correction into the summer and a fifth wave higher high into August and September. The analyst added that the fifth wave isn\u2019t really guaranteed and is speculative.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":655209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-664137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH<\/title>\n<meta name=\"description\" content=\"Crypto 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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