A business analyst has said that Bitcoin (BTC) money they should expect the stock to reach $100,000, but only if they sell a lot.
According to the analysis of TradingShot shared a TradingView post on April 10, the analyst noted that while the economy is still on the rise, Bitcoin is still in a long-term bearish phase despite a modest recovery following recent events.
The stock has been rallying for two months since its lows in February, but the recovery remains weak, failing to challenge the previous highs and strengthening the main lows.
The analysis places the current session within a six-month bear cycle that may last six months. Containers a Fibonacci An example of the movement and behavior of 2018 and 2022, which saw a significant change, the latest cycle can lead to a drop of 70% before going down.
The major technical levels indicated include a potential downside near $47,000, in line with the 350-week moving average (MA), and a deep target around $38,000 near the 500-week moving average. These levels are consistent with previous cycles, where long-term moving averages acted as key support areas.
After this preparatory phase, the system points to a gradual recovery, with the growth of Bitcoin over time, retrieving resistance levels, and eventually pushing to six figures.
With this in mind, the $100,000 target is probably part of a long-term recovery, with late 2026 to early 2027 as the most likely window if historical and technical signals hold.
Bitcoin price analysis
These sentiments come as Bitcoin continues to bounce back slightly. As of press time, a crypto currency It was valued at $ 72,675, gaining about 0.7% in the last 24 hours, while during the week, the stock is above 8%.
Overall, the biggest in the world crypto currency has shown resilience this week, rising from lows near $68,000 in early April. On Friday, April 10, BTC reached a high of around $73,440 before settling around $72,000.
Technically, Bitcoin is moving below the resistance area around $73,000 and $73,100. A clean break above this level would open the door to a profit extension to $76,000 or higher in the short term, with support near $70,000 and $71,000.
Incidentally, the return can be attributed to strong entry into the US Check out Bitcoin ETFswhich posted the highest gross at the start of the week, with one episode seeing nearly $471 million, the highest daily gross since February.
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ offerings led the charge, indicating continued consumption even amid price consolidation.
The US-Iran ceasefire announcement also provided a boost to risk, helping BTC recover from the $69,000 lows.
