Bitcoin to the moon? BTC to target $46k as new ATH brews

With the majority of the cryptocurrency market slowly moving to reverse the losses suffered in the previous dip, Bitcoin (BTC) is no different, and cryptocurrency experts agree that more price gains, perhaps even a new all-time high (ATH), could be in store.

Indeed, pseudonymous crypto analyst Trader Tardigrade said that the next target for Bitcoin could be $46,000, based on the linear chart that has demonstrated a similar track in the period between 2018 and 2021, according to the analysis shared on September 15.

New record in the making?

Earlier, the crypto expert projected that the flagship decentralized finance (DeFi) asset would witness a “parabolic rally” and perhaps even reach a new record, stating that Bitcoin “has never lost its track” and that the “new Bitcoin ATH is brewing in this post-Shakeout Bull Run.”

Additionally, in the most recent post on social media, he highlighted that $30,000 would be a foundation for Bitcoin’s takeoff toward the new ATH. Specifically, as he explained:

“Before reaching ATH, BTC will pullback to $30k. $30k will be the new floor!!”

At the same time, a renowned crypto trading expert Michaël van de Poppe stressed that Bitcoin “might be ready to start the bull cycle” if it “holds above the 200-week [exponential moving average (EMA)], and it should hold above that level,” arguing that “it’s the best period of the cycle to accumulate your altcoins.”

It is also worth noting that another crypto analyst, thescalpingpro or Mags, shares the optimistic sentiment, posting a chart that demonstrates the crypto’s movements each halving cycle, and announcing the “Bitcoin Bull Run Incoming,” as Stockmoney Lizards observed “textbook Wyckoff behavior,” preceding a price run toward $35,000 in 2024.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $26,455, recording a 0.08% advance in the last 24 hours and gaining 2.42% across the previous seven days while still recording a loss of 9.14% on its monthly chart, as the latest data indicates.

All things considered, whether the maiden digital asset truly manages to demonstrate the price action predicted by the above crypto experts will depend on many different factors, including market sentiment, technical analysis (TA) indicators, and related developments.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source