Bitcoin flashes signal that could ‘explode to targets’ above $200,000
With Bitcoin (BTC) consolidating above $80,000, historical trends suggest the maiden digital currency could be building momentum for a major breakout, potentially targeting $200,000 next. The possibility of this long-term target is supported by Bitcoin’s position above its one-week moving average 50 (1W MA50). This level has consistently acted as an anchor for bullish breakouts, according to Analysis by online trading expert TradingShot. In a TradingView post on March 21, the analyst noted that Bitcoin’s historical cycles follow a familiar pattern: a bear market bottom, an initial rally attempting to break above the “all-time high lower highs” trendline, and a steady climb within a ‘growth channel.’ Picks for you Here's what gets gold to $4,000, according to commodity strategist ...