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Home CRYPTO

Bitcoin Will Likely Peak Between $175K – $460K in the Next 12 Months According to This Technical Indicator

by Sham
October 30, 2024
in CRYPTO
Reading Time: 2 mins read
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  • A classic technical analysis tool suggests Bitcoin price will top in the $174,000–$462,000 range within the next 24 months.
  • Bitcoin’s price could peak in the $175,000–$450,000 zone, based on historically accurate Fibonacci retracement levels between 1.618 and 2.272 where each BTC top has been achieved.
  • The $86,200 level would be a critical point for the Bitcoin bulls, as it represents the high-risk upper boundary for the current cycle.

Bitcoin has recently hit new all-time highs, and investors are anticipating a period of price discovery as BTC breaks out of its recent trading range. According to historical price data, Bitcoin tops have previously coincided with certain Fibonacci retracement levels. Using this indicator, analysts have made predictions for where the current bull cycle may peak.

Fibonacci Retracement Levels

Each Bitcoin peak since 2013 has occurred between the key Fibonacci levels of 1.618 and 2.272. Under the current market structure, the price targets at these levels are $173,088 and $458,319 respectively. However, over the years the actual price high has been slightly below the previous Fibonacci range. If this trend continues, the 2025/2026 top could fall just under $173,000.

Critical Level at $86,200

According to analyst Axel Adler Jr, the $86,200 level will be a decisive point for Bitcoin bulls. This aligns with the upper boundary of Bitcoin’s current risk cycle, where short-term holders previously took profits. A break above $86,200 with strong momentum could lead to exponential price growth.

Conclusion

While predictions vary, the confluence of technical and on-chain indicators suggests the Bitcoin bull market has further to run. According to historically accurate Fibonacci levels, the cycle peak could reach between $174,000 and $462,000 within the next two years. However, as with any investment, nothing is guaranteed, and readers should do their own research before making decisions.

Tags: all-time highsAxel Adler JrBitcoinbull cycleFibonacci
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