Bitcoin News Today: Bitcoin Analyst Forecasts 30% Upside to $155,500 as Technical Indicators Signal Breakout

Bitcoin’s price trajectory has sparked renewed speculation, with a technical analyst forecasting the cryptocurrency could surge to $155,500 in the coming months. The prediction, based on historical price patterns and chart analysis, positions Bitcoin at a pivotal juncture as it trades near $118,961 [1]. TradingShot, a cryptocurrency analyst, highlighted that Bitcoin’s rebound from the 50-week Moving Average (MA) on April 7, 2025, marks a potential catalyst for a bullish breakout. This move aligns with a three-year ascending channel initiated in November 2022, where the asset found support at the 0.236 Fibonacci retracement level—a key area historically linked to significant price reversals [1].

Historical parallels further bolster the forecast. Similar technical signals in late 2022 and early 2023 preceded 106.37% gains, while a more aggressive rally between late 2023 and early 2024 saw a 197.23% surge. TradingShot argues the current setup mirrors this stronger trend, suggesting a 30% upside from current levels could materialize [1]. However, the projection remains contingent on Bitcoin overcoming immediate resistance.

Cryptocurrency trading expert Michaël van de Poppe noted Bitcoin’s recent stalling at $119,400—a critical resistance zone—raising concerns about short-term volatility. Price action indicates a possible pullback to the $116,500–$117,500 range, with open gaps in CME futures around $118,500 amplifying downward pressure. A liquidity cluster below this level could trigger a correction before any further upward movement, van de Poppe warned [1].

Despite these risks, Bitcoin’s broader technical outlook remains bullish. The asset is trading above both its 50-day and 200-day Simple Moving Averages (SMA), confirming a sustained uptrend. Its 14-day Relative Strength Index (RSI) of 64.11 reflects strong buying momentum without entering overbought territory, leaving room for further gains [1]. Weekly price data also show a modest 0.68% increase, reinforcing the asset’s resilience.

The prediction of a $155,500 peak underscores the market’s optimism amid broader adoption trends and macroeconomic dynamics. However, the path to this target is likely to involve volatility, with periodic corrections and sideways consolidation expected. Investors are urged to balance such forecasts with broader economic and regulatory considerations, as sudden shifts in sentiment or policy could disrupt the trajectory.

Source: [1] [title1: Bitcoin to peak at $155,000 on this date, according expert] [url1: https://finbold.com/bitcoin-to-peak-at-155000-on-this-date-according-expert/]