Resistance

<p>According to cryptocurrency analyst Ash Crypto, Bitcoin’s breach of a critical resistance level could pave the way for a meteoric rally towards $200,000. In an X <a href="https://x.com/Ashcryptoreal/status/1777980731253273065" target="_blank" rel="noopener noreferrer nofollow">post</a>, the analyst highlighted Bitcoin’s historical tendency to surge after breaking out of a specific price channel.</p>
<h2 class="wp-block-heading" id="strong-the-parallel-channel-pattern-strong"><strong>The Parallel Channel Pattern</strong></h2>
<p>Ash Crypto’s analysis hinges on a parallel channel pattern that has guided Bitcoin’s price movements since 2017. “Bitcoin has consistently followed an upward parallel channel, respecting key upper and lower levels over a three-year cycle,” the analyst noted.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="427" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-1024x427.png" alt="" class="wp-image-472054" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-1024x427.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-300x125.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-768x320.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-1536x640.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-2048x854.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-360x150.png 360w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-840x350.png 840w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497-788x328.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-497.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Moreover, Ash Crypto emphasized that breaking above the middle line of this channel has typically driven Bitcoin’s price towards the upper boundary. “Historically, breaking the Middle Range in previous cycles led to a surge of up to 225% towards the upper channel,” the analyst added.</p>
<h2 class="wp-block-heading" id="strong-the-bullish-breakout-strong"><strong>The Bullish Breakout</strong></h2>
<p>Significantly, Bitcoin has closed above the crucial middle range resistance lately, potentially validating Ash Crypto’s thesis. “Currently, the middle range has been breached, and the price closed above it, suggesting a strong potential for continued upward movement,” the analyst stated.</p>
<p>If historical patterns repeat, this breakout could catalyze a notable bull run for the flagship cryptocurrency. “If historical patterns repeat, Bitcoin could potentially reach $200,000,” Ash Crypto projected.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-current-bitcoin-price-strong"><strong>Current Bitcoin Price</strong></h2>
<p>According to the latest data from CoinMarketCap, Bitcoin is currently trading at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$67,746.49</a>, down 4.13% in the last 24 hours. However, the bullish breakout lately has reignited optimism among Bitcoin proponents, who anticipate a potential surge towards Ash Crypto’s ambitious $200,000 target.</p>
<p>Ash Crypto’s analysis highlights the potential for BTC to continue its upward trajectory, particularly if the parallel channel pattern persists. As the crypto market closely monitors Bitcoin’s movements, the coming weeks and months could prove pivotal in determining whether the bulls can indeed bank on the $200,000 target.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-bulls-bank-on-200k-target-as-price-breaks-this-key-resistance/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Bulls Bank on $200K Target as Price Breaks This Key Resistance</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Bulls Bank on $200K Target as Price Breaks This Key Resistance

Table of Contents

CaptainAltcoin

Other articles published on Apr 10, 2024

Hong Kong Set To Greenlight Spot Bitcoin ETF In April

Just-In: Binance Delists Key Spot Pairs for Uniswap, Optimism, & Other Crypto

Decentraland and Flow Lead the Pack in Developmental Activities

Book of Meme’s (BOME) Run Continues; Ethereum (ETH) Backers Shift Focus to This New ETH-Based AI ...

SHIBDOGE Price Dragging Gains, Is Further Decline Possible?

DFINITY Foundation Launches Olympus, a Decentralized Global Acceleration Platform on the Internet...

Join our free newsletter for daily crypto updates!