Crypto expert Minga has predicted that the price of Bitcoin could go beyond $120,000 to reach a new all-time high (ATH) of $190,000 next time. cows around. The analyst also pointed out that now is the best time to buy as BTC approaches the bottom.
Expert Gives Buy Signal As Bitcoin Price Nears Bottom
In a X postThorns said that the price of Bitcoin is approaching a big bottom and that this is part of a cycle where every dip is an opportunity to buy and accumulate long-term wealth. The analyst decided that BTC could take the area of $58,900 to $54,500 at least in this cycle, and that this area has become a point of interest (POI) for buying positions.
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Thorns revealed that they still expect to move up to $37,000 Bitcoin price in extreme cases. However, he said that the idea of buying land should not be entered at once, but to build positions gradually over time. The analyst also pointed to a possible drop to $37,000 as a starting point, indicating that this is the right stage to prepare for the next bull run.
At this point, the analyst suggested that he would look at $194,742 as the point where he could start taking profits and unload a large part of his position. A meeting that could reach $194,742 could be new all time (ATH) on the price of Bitcoin, exceeding its current ATH of $126,000.
Minga also stated that the plans to take profit at this level are just a plan and that his final decision will be based on how the price of Bitcoin is when it reaches those levels.
Strategic Buy Zone for BTC
In a X postCrypto expert Ali Martinez revealed two primary areas of accumulation based on historical 40%-50% resets in the past. bear markets which occurs at the intersection between the 50 and 200 Simple Moving Averages (SMAs). The first goal is $40,000, representing a 30% improvement from the current level.
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The second goal of the collection is $ 30,000, which represents a decrease of 50% from the current price of Bitcoin. Martinez said the launch had already dealt with the last big problem before it became a mainstream feature.
The analyst noted that BTC has already seen a 52% correction and is currently at the 30-day 3-day SMA cross. Similarly, he said that if the history matches, then BTC is entering the final stage windows for this cycle rate within the next three to six days.
At the time of writing, the price of Bitcoin is trading around $66,400, down more than 2% in the last 24 hours, according to data from CoinMarketCap.
Image taken from Adobe Stock, chart from Tradingview.com
