Crypto analyst CryptoCon has highlighted the 'Golden Multiplier Ratio' as a bullish indicator for Bitcoin's price, suggesting it's just the beginning of a major rally. This indicator shows potential for a significant price increase.
The analyst noted that Bitcoin reached a previous local high at the level 5 band of the Golden Ratio Multiplier in March, which is now increasing to $122,000. CryptoCon expects Bitcoin to reach this level before the end of the current market cycle.
CryptoCon also referenced the Magic Bands indicator, predicting the price could reach $98,720 soon and eventually hit a cycle top target of $134,000 by late 2025. He expects Bitcoin’s price to gain $1,000 weekly, surpassing ATHs.
Another crypto analyst, CrediBULL Crypto, suggests Bitcoin's price is poised to reach local highs, as long as it doesn't breach the $87,700 level. Breaking $93,800 could propel it beyond $100,000.
However, if the price doesn't move impulsively, CrediBULL Crypto warns of potential retests between $70,000 to $72,000. Currently, Bitcoin is trading at approximately $91,200, based on CoinMarketCap data.
