Emily Walker
Crypto expert TradingShot has shared predictions concerning Bitcoin’s potential rise to $150,000. Utilizing Fibonacci analysis, he indicated that while a recovery is possible, additional price corrections may occur before reaching this point.
Bitcoin’s Path to $150,000
According to a recent TradingView analysis, Bitcoin is currently in phase three of its bullish cycle, pointing towards an imminent high. The projected price for this next peak aligns with the -0.5 Fibonacci extension level, estimating a target of $150,000.
The analyst reflected on the previous two phases of Bitcoin’s bullish movement, which included a prolonged accumulation phase and a possible correction down to the 0.382 Fibonacci level. He raised the prospect of a subsequent rally closing at $200,000 once phase 3 concludes.
TradingShot outlined that Bitcoin could target the $200,000 mark between October and December 2026, which aligns with Standard Chartered’s forecast of reaching this price by the end of 2025. Additionally, the analyst offered insights into Bitcoin’s current market behavior.
He observed that Bitcoin has recently interacted with its one-day 50 moving average (MA) for the first time in over two months, displaying a rebound. Notably, short-term buyers entered the market last week as Bitcoin approached the 50 MA, resulting in a significant upward movement. This reaction is considered typical during such strong uptrends.
According to TradingShot, the critical support level in Bitcoin’s bullish phases is the one-week 50 MA, which has been a reliable support line since March 2023, being tested twice in August and September—the latter initiating the current upwards trend.
In-Depth Look at the Fibonacci Channel Up
TradingShot offered further insights on the Fibonacci Channel Up. He pointed out that the bullish movements are part of this channel. Since November 21, 2021, the Bitcoin price has followed a Fibonacci Channel Up.
During phase one, Bitcoin was contained within the Fib 0.0 to 1.0 range, while in phase two, it ranged from 0.5 to 1.5. For the current phase three, TradingShot anticipates movements within the Fib 1.0 to 2.0 range.
The analyst emphasized the recurring patterns of symmetry within these phases. He noted that these patterns have historically resulted in 100% increases, referencing significant rallies like those on April 14, 2023, and January 11, 2024. Following these rallies, Bitcoin generally retraced to the 0.382 Fibonacci retracement level, suggesting that similar behaviors may emerge in phase three.