Fibonacci Forecasts $145,000 By March
Bitcoin (BTC) is trading near $97,000, displaying bullish tendencies. Technical analysis shows a remarkable symmetry in Bitcoin's price behavior, forecasting a rapid advance to new all-time highs.
Bitcoin Price Action Is Bullishly Symmetric
Bitcoin just rebounded off its 100-day MA. In January 2024, this important support level sparked a major price rise. BTC is now following its trajectory from last year, when a similar rebound from the MA100 and bullish symmetry spurred a rally that drove BTC to a new all-time high.
The analyst posted a graphic showing Bitcoin in a “Channel Up pattern”—an upward-sloping parallel channel suggesting a long-term positive trend. TradingShot shows two accumulation channels in this pattern, indicating a consolidation phase before the Bitcoin price rises.
The analyst's optimistic RSI is at $97,000 Bitcoin between its two accumulation channels. The new accumulation channel's RSI lower high intervals match those of the preceding channel between 2023 and 2024.
The analyst notes that the 2nd and 3rd RSI lower highs were 25 days apart in both accumulation channels. The 3rd and 4th RSI lower highs are 32 days apart in the current channel and 34 days apart in the preceding one. 1️⃣
This near-perfect bullish symmetry suggests that price movement may follow historical patterns to a new all-time high.
Fibonacci Forecasts $145,000 By March
Bitcoin high based on bullish symmetry patterns. The analyst underlined both cycles' 2.618 Fibonacci extension threshold on the chart. BTC rallied to a new ATH at $73,000 in the first cycle.
The green region on the chart shows the cryptocurrency's current market cycle top at $145,000 using the same Fibonacci ratio.
TradingShot expects Bitcoin to achieve this bullish objective between March and April 2025 if the bullish symmetry pattern follows past patterns .
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