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BTC price to $150K? Bitcoin Price to $150K?

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Charts Hint At Brewing Bitcoin Rally To New All-time Highs
Charts Hint At Brewing Bitcoin Rally To New All-time Highs

Takeaways from the conference:

  • Bitcoin is trading above its short-term holders cost basis of $114,000, which indicates a recovery in demand.

  • Bitcoin analysts believe that the price of bitcoin could rise to $150,000.

BitcoinBTCPrice reclaimed $115,000 on Monday and recovered some losses. Friday’s historic sell-offThis resulted over 20 billion dollars in liquidations of the centralized exchange.

Bitcoin’s price dropped by 10%-15%, which left its technicals in tatters. However, traders still believe that the macro-perspective of Bitcoin is bullish and $150,000 remains within reach.

Bitcoin returns to key trendline

According to Bitcoin.com, the BTC/USD was trading at 8% over Friday’s low of $107,500. Cointelegraph Markets Pro You can also find out more about the following: TradingView. 

BTC is now trading above the short-term cost of BTC, indicating possible gains.

Related: $120K or end of the bull market? 5 things to know in Bitcoin this week

The STH realized price or cost basis represents the average BTC acquisition price for those investors who hold Bitcoin less than 155 day.

“BTC back above the STH cost basis of $114K,” said Frank Fetter is a quant at Vibes Capital Management.

“The show goes on.”

Bitcoin short-term holders cost basis. Glassnode is a source of information.

Cost basis STH trendline acts as support Reclaiming the BTC/USD currency pair during Bitcoin bull-market corrections boosts confidence among investors that it may continue to gain.

Glassnode provides additional data highlighted that the cost basis of the one-week-to-one-month holders has crossed back above the one-month-to-three-month cost basis, signaling a rising momentum in demand and net capital inflows, as traders bought the dip.

Bitcoin price by age Source: Glassnode

Bitcoins’ uptrend is still intact

Bitcoin’s latest flash crash below $110,000 BTC’s rise was short-lived, as traders said that it was only the beginning.

“The crucial factor is that Bitcoin holds the support above the 20-Week MA” Currently at $113.300 said MN Capital founder Michael van de Poppe in an X post on Sunday.  

Van de Poppe also said Friday’s decline below this level. “provided a massive opportunity” Reclaiming the money from buyers “we are continuing the uptrend.”

Mikybull cryptocurrency echos these sentiments said Bitcoin “is still in bullish territory from a price action structural perspective,” adding:

“As long as $BTC and $ETH are still looking great on the HTF charts, the bullish vibe continues.”

Daan Crypto Trades said It is “base case for this cycle has always been $120K-$150K.”

Analysts have said that Bitcoin is currently a very volatile currency. “light green/yellowish region ($140K-$200K)” Once the price has reached these levels, it would be wise to begin scaling back more. 

Bitcoin price rainbow chart. Source: Daan Crypto Trades

Crypto Analyst Jelle said Bitcoin experienced a resurgence in the last few years. “2017-style washout” But still hold key levels.

“I don’t really mind the way this looks. The target remains $150,000.”

The following are some of the ways to get in touch with us. Cointelegraph reportedBitcoin has retested the “golden cross,” Historically, a bullish trend has been associated with rallies as high as 2,200% – in 2017 – and 1,190% – in 2020. Bitcoin’s value could skyrocket in coming weeks if the breakout pattern is confirmed.

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.