NewsBTC has recently reported the potential rebound of Bitcoin’s price over the $100,000 threshold, according to crypto expert Madden’s bullish forecast for the leading cryptocurrency. His analysis sheds light on the future trajectory of BTC and how it could attain this significant price milestone.
In a recent TradingView post, Madden suggested that Bitcoin’s price could potentially surge past $100,000, with a reversal appearing probable. The accompanying chart displayed potential price targets of $91,700, $102,700, and $109,356 that BTC could reach as it bounces back. A rally to $109,356 would set a new all-time high (ATH) for the premier cryptocurrency.
Madden referred to several charts depicting key levels and pertinent patterns to verify the reversal of Bitcoin’s price. He pointed out a Deep-Crab harmonic and Wolfe wave pattern on the daily chart to pinpoint the reversal points. The Deep Crab pattern indicated that BTC likely reached its nadir when it hit $76,600, signaling the start of the reversal.
Furthermore, Madden referenced the CME daily chart for Bitcoin’s price. He noted a daily recheck of the 200-day moving average (MA) and an already filled CME gap between $77,000 and $80,000, implying that there’s no reason for BTC to fall that low again. The crypto expert also mentioned that BTC is currently above the 2022 and 2024 top support line.
Madden shared an anticipated roadmap and future prospects for Bitcoin’s price. His chart suggested that the leading crypto could peak at approximately $125,000 in this market cycle. The chart predicted this price target would be attained by the year’s end. Crypto authority Willy Woo previously proposed this target, describing it as a conservative estimate.
The chart also forecasted that Bitcoin’s price might plunge into a bear market by 2026, falling from the estimated peak of $125,000 to a low of $40,000. This price reduction to $40,000 could occur before the end of 2026.
In the interim, the bullish shift for Bitcoin’s price is the primary concern for market participants. Crypto analyst Ali Martinez noted that BTC is on the rise, setting a target of $90,000, contingent on maintaining the $84,000 support.
According to Martinez, crypto whales have already positioned themselves for the potential bounce-back of Bitcoin’s price to $90,000, purchasing over 20,000 BTC in the last two days.
As of press time, Bitcoin’s price is hovering around $84,500, marking an increase of over 3% in the past 24 hours, based on data from CoinMarketCap.
