BTC Next Cycle Peak Could Reach 137,000 Dollars

Crypto News– Cryptocurrency trader Titan of Crypto recently shared a prediction regarding Bitcoin’s (BTC) next cycle peak in a recent post. The prediction is based on an analysis of historical BTC price data and the trend lines drawn from a previous cycle’s low to its subsequent high. According to this analysis, BTC could potentially reach a peak of approximately $137,000, with this milestone expected in August 2024.

BTC Next Cycle Peak Could Reach 137,000 Dollars

As of the latest data, Bitcoin was trading at $27,952.35, having seen a modest 0.15% increase in the past 24 hours, according to CoinMarketCap. Over the past seven days, BTC’s price has climbed by more than 3%, and it has experienced a 6.57% increase in the monthly time frame.

However, BTC’s 24-hour trading volume has decreased by over 48%, bringing it down to $6,951,099,043. While Titan of Crypto is optimistic about the potential for BTC to reach $137,000, it still needs to increase by approximately 59% to surpass its all-time high price of $68,789.36, which was reached in November 2021.

At the time of writing, BTC was attempting to break through the $27,915 resistance level. If it successfully closes a daily candle above this level within the next 48 hours, it may target the next significant threshold at $29,210 in the following two weeks.

On the contrary, a failure to close above $27,915 in the coming days could invalidate the bullish scenario, potentially leading BTC to retest the immediate support level at $26,915 in the subsequent week.