The price of Bitcoin is approaching all-time highs: Are we heading towards a breakout of $120,000?
With Bitcoin ($BTC ) surging above $105,000 and nearing its all-time high from January, market expert Doctor Profit has presented bullish predictions for the leading cryptocurrency. In a recent post on the social media platform X, he detailed the dynamics that, according to him, will drive Bitcoin to new highs.
Bitcoin surpasses key levels as institutional demand increases
After reaching $77,000, Doctor Profit identified $100,000 as the first significant target, which has already been achieved. Looking ahead, he anticipates that the next breakout target will be between $116,000 and $120,000.
His confidence is based on several positive indicators, including a strong bullish divergence observed on the daily chart, a technical signal that is often associated with future price increases. He emphasized that daily divergences tend to have a higher probability of success than those observed in longer time frames.
