Crypto Expert Identifies Clear Pattern for Bitcoin, Targeting $175,000

Bitcoin Crypto

Crypto Expert Identifies “Clear Pattern” for Bitcoin, Targeting $175,000

A prominent crypto analyst, EGRAG CRYPTO, has published a detailed breakdown of what they describe as an “increasingly obvious” pattern in Bitcoins (BTC) current market cycle.

This analysis suggests a predictable sequence of price movements, culminating in a projected cycle top of $175,000, following the filling of a significant CME gap.

According to EGRAG CRYPTO, this pattern becomes particularly evident as the market approaches what they believe is the “cycles end or the Cycle Top.” The core of their analysis revolves around the “BULL MARKET SUPPORT BAND (BMSB),” a key technical level that dictates the phases of the pattern.

The Pattern Breakdown outlined by EGRAG CRYPTO is as follows:

• Close below the BMSB: This marks the beginning of a corrective phase.
• Rapid pump above the BMSB: A swift recovery pushes Bitcoin back above the support band.
• Retest 1, followed by a Big bounce 1: The price retests the BMSB, leading to a significant upward move.
• Retest 2, with a minor bounce 2: A second retest occurs, followed by a smaller bounce.
• Then, enter corrective mode: The cycle then shifts back into a corrective phase.

In summary, the sequence is described as: Corrective → Bounce 1 → Bounce 2 → Corrective.

• Based on this recurring pattern, EGRAG CRYPTOs outlook for Bitcoin is highly bullish for the immediate future:

The analysis predicts that Bitcoin ($BTC) should first fill the CME gap around $91,950. Following this, the asset is expected to “launch into a massive rally,” pushing its price towards the $140,000-$160,000 range. After reaching this level, the pattern suggests a final retest and a “minor bounce” that would ultimately take Bitcoin to its projected Cycle Top in the $175,000 region.

This detailed forecast from EGRAG CRYPTO provides a clear roadmap for what they anticipate in Bitcoin‘s price action as the current cycle unfolds, offering a target for investors watching for the market’s peak. As always, market movements are complex and subject to various factors, and such analyses serve as speculative outlooks based on identified patterns.