Will BTCs Cycle Break Through 100000 Bitcoins MACD Crossover Provides Clues for Investors

Coin World Report:
Analysts predict that Bitcoin will rise by 40% before reaching the top of the cycle.
Fibonacci extension levels indicate targets of $109,000 and $132,000.
Bitcoin [BTC]
Witnessing a surge
Accumulation addresses
HODL mentality is becoming increasingly popular.
Bitcoin
By early 2024, there were addresses holding at least 10 BTC with no outflows and a total of 1.5 million coins, but currently holding 2.9 million coins.
This
Bitcoin rainbow chart
provides an overly optimistic forecast for the current cycle, with a target of $288,000 or higher. However, historical trends indicate that the top of this cycle may be close to $100,000.
Will Bitcoin rise by another 40% before reaching the top of the cycle?
In a post on X
cryptocurrency analyst
CryptoBullet
notes the first bullish crossover of the weekly MACD since October 2023, which saw a 172% rebound within five months.
However, this rebound occurred before the Bitcoin halving event. The current debate is – should we expect similar returns or will the next uptrend eventually form a lower high on the MACD and end the bull market?
Analysts lean towards the latter scenario. After a vertical rebound, followed by months of consolidation, and then a bullish MACD crossover, triple-digit percentage gains may not occur. CryptoBullet indicates on his chart that a further 40% rise would be a reasonable target.
Measuring Bitcoin’s current targets
History rhymes, but doesn’t necessarily repeat. During the bull market of 2017-18, the return rate of weekly MACD bullish crossovers was 617%, 468% in 2020, and 172% in 2023, but occurred before the halving date.
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Bitcoin rose by 190% from the $3.2 million low point 18 months before the halving in 2019 and 2020. The pre-halving run seen by BTC may be surpassed, and the 40% price extension target set by CryptoBullet for the next phase may be incorrect.
However, given the current circumstances, this seems like a reasonable expectation. It also aligns well with the Fibonacci extension levels plotted on the weekly chart above.
Disclaimer: The information provided does not constitute financial, investment, trading, or any other type of advice and solely represents the author’s opinion.