Bitcoin Analyst Predicts Breakout as BTC Surges Above $62,800
A well-known crypto analyst, Jack Sparrow, has made a bold prediction that Bitcoin (BTC) is ready to break out of its consolidation phase. With the price of BTC surpassing $62,800, Sparrow believes that the digital asset is now in a prime position for a significant rally.
Sharing his insights with his large following on X, Sparrow has set a target price of $70,000 for Bitcoin in the near term. He anticipates a brief pullback before a strong push towards his initial target of over $100,000.
According to Sparrow’s chart analysis, he also envisions Bitcoin reaching as high as $142,000 in the future. As of the current writing, BTC is trading at $66,924.
Another notable crypto strategist, Pentoshi, shares a similar sentiment about Bitcoin’s potential for a breakout. With a rounding bottom pattern forming on the weekly time frame, Pentoshi sees bullish signs for Bitcoin’s price action.
Pentoshi expresses his optimism, stating, “BTC looks really constructive for a new ATH, with the bottom rounding off and having so much time up here.” He believes that Bitcoin is on track to reach a new all-time high soon.
With both Jack Sparrow and Pentoshi pointing towards a bullish outlook for Bitcoin, investors and traders are eagerly anticipating a potential surge in the digital asset’s price.
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