Cryptocurrency analyst Titan of Crypto recently released an optimistic forecast, believing that Bitcoin will aim for the historical high of $137,000 this summer (July-August). The technical basis for this is that a typical bullish flag pattern has formed on the daily chart, which usually indicates a breakout.
The analyst emphasized that a necessary prerequisite for achieving this goal is for Bitcoin to effectively break through and hold above the 200-day moving average. If support is obtained from a multi-period moving average system on higher time frame charts, a 'golden cross resonance' effect will be formed, significantly enhancing upward momentum. Technical models indicate that if the recovery of key moving averages is completed, Bitcoin will not only test the $100,000 integer level, but may also aim for the milestone price of $137,000.
