Spike

Bitcoin

<p>Crypto analyst Washigorira, known as Titan of Crypto, has identified a significant bull pennant formation on Bitcoin’s daily chart, suggesting a potential surge to $128,000 by year-end. The analyst emphasizes that while this ambitious target might seem unexpected to many, the technical setup supports such a dramatic move.</p>
<p><a href="https://x.com/washigorira/status/1864252941453889747?s=46" target="_blank" rel="noopener noreferrer nofollow">The crypto analyst</a> breaks down the current chart pattern, highlighting a bull pennant formation following a strong upward trend. This technical pattern typically emerges after a sharp price increase, forming what traders call the flagpole. The <a href="https://captainaltcoin.com/why-is-bitcoin-btc-price-trading-sideways-key-on-chain-metrics-to-watch/" target="_blank" rel="noopener noreferrer nofollow">subsequent consolidation phase</a> creates converging trendlines, shaping a triangular pattern characteristic of a bull pennant.</p>
<h2 class="wp-block-heading" id="target-analysis-and-methodology">Target Analysis and Methodology</h2>
<p>The $128,000 target derives from standard technical analysis methodology. By measuring the flagpole’s height and projecting it from the potential breakout point, the analyst arrives at this price objective.</p>
<p>The current consolidation phase, marked by tightening price action, suggests accumulation before a possible explosive move.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/expert-analyst-predicts-jupiter-jup-will-outperform-bitcoin-soon-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Expert Analyst Predicts Jupiter (JUP) Will Outperform Bitcoin Soon – Here’s Why!</a></em></strong></p>
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<p>A few market participants are anticipating such a dramatic move; a breakout could trigger significant <a href="https://www.investopedia.com/deal-with-crypto-fomo-6455103" target="_blank" rel="noopener noreferrer nofollow">FOMO (Fear of Missing Out)</a> could potentially accelerate the price movement. This psychological factor, combined with the technical setup, forms the basis of his bullish outlook.</p>
<p>A breakdown below the pennant’s lower trendline would invalidate the pattern. Additionally, broader market conditions, including macroeconomic factors and regulatory developments, could impact Bitcoin’s price trajectory.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-price-could-spike-to-128000-this-year-if-this-bullish-pattern-plays-out/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Could Spike to $128,000 This Year if This Bullish Pattern Plays Out</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Price Could Spike to $128,000 This Year if This Bullish Pattern Plays Out

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