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- Bitcoin’s price reset could lead to a major rally, with potential for new record highs, according to EGRAG Crypto.
- A significant deviation from Bitcoin’s Yellow Moving Average signals a likely correction, as seen in late 2024.
- The 1.618 Fibonacci extension level suggests Bitcoin could rise to $175,000 in the coming months.
Bitcoin (BTC) is getting closer to a crucial time, given that the market seems to suggest a large move in price. Analyst EGRAG Crypto highlighted that, linking current trends to similar events that occurred in December 2024 and January 2025. EGRAG predicts a reset in Bitcoin’s price, which could lead to a strong rally and new record highs for the coin.
Source: X
EGRAG points out that Bitcoin is presently beyond its Yellow Moving Average (MA), which can make a correction more likely. A significant deviation from Bitcoin’s MA usually leads to a reset that helps the market stabilize. A similar scenario occurred late in 2024, as Bitcoin paused and then experienced a price surge. EGRAG forecasts the same outcome happening again, creating a new opening for an important price change.
Bitcoin’s Fractal Pattern Forecast
The analyst expects that after the reset, Bitcoin will trade in a well-defined range and this range will support its next major price increase. EGRAG describes this moment as the FINAL LEG UP for Bitcoin, since it could climb above its old record highs. He believes that since Bitcoin’s price currently follows a fractal pattern, these patterns offer hints about its next move.
EGRAG predicts Bitcoin could rise to $175,000, which is the price at the 1.618 Fibonacci extension level. Traders use the Fibonacci price level to anticipate what the market may do in the near future. A breakthrough in fractal analysis could lead to a rise in the Bitcoin price and this target might be met within the coming months.
Source: X
As of press time, BTC is trading at $105,175 and the past day’s trading volume is $42.52 billion. The value has dropped by 2.97% over the last day and by 5.11% over the past week.
BTC volatility has not stopped EGRAG from finding reasons to be optimistic about the future of cryptocurrencies. Based on his prediction, BTC is expected to experience consolidation for a while, with a major breakout to follow.
Traders and investors are closely monitoring BTC future moves and the next few months could determine its price direction. If the fractal pattern remains, BTC may see a big rise, setting new records and securing its position among other cryptocurrencies.
