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Following the initial retracement, Bitcoin seems to be demonstrating some resilience as optimistic momentum commences to accumulate once more. Currently, the likelihood that the price could surge rapidly remains elevated, particularly as participants in the sector appear to be gearing up for the upcoming upward trend. In a related context, crypto analyst Weslad has forecasted that the price of Bitcoin might actually double in the next wave, especially as the overarching optimistic structure remains robust.
Reasons Bitcoin Is Aiming for Approximately $200,000
The evaluation emphasized the overarching optimistic framework of Bitcoin that has endured even amidst various market downturns. This confident macro framework places the price above the essential and immediate demand zones, reflecting significant strength following the initial drop beneath $100,000.
Thus far, the cryptocurrency has returned to a phase of consolidation, yet this is not a reason for concern as the crypto analyst does not foresee the consolidation to persist long. Instead, Weslad is of the opinion that this consolidation represents a type of “natural pause”, while the Bitcoin price continues to progress within the larger uptrend.
Moreover, this movement underscores that the recent declines have all been a healthy retest phase for Bitcoin. If this is accurate, then the declines were not a reversal, but merely a constructive correction that could strengthen the subsequent rebound.
At present, the key levels of interest lie between $92,000 and $101,000, which have remained quite stable during the recent downturn. This establishes it as an significant support level for the upcoming move, and bulls need to maintain their grip at these benchmarks to sustain the optimistic momentum.
If this level remains intact, then the crypto analyst envisions the Bitcoin price embarking on another rally. In such a scenario, the price would more than double. The initial target for the expansion wave could range as high as $142,000-$190,000. However, there exists potential for additional growth, positioning the digital asset as high as $297,092 at its pinnacle.
Regarding the timing of this movement, the analyst’s chart suggests a possible commencement at the conclusion of 2025, with the actual movement transpiring next year. Hence, a significant portion of the movement is anticipated to unfold across 2026, with the peak expected to be reached sometime in August.
“Provided that price remains above the designated demand zones, the long-term forecast remains unequivocally optimistic,” Weslad articulated. “Corrections within this channel serve as accumulation opportunities, not indicators of vulnerability.”
Featured image sourced from Dall.E, chart from TradingView.com
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