$240,000 Bitcoin Will Shock More than Trump’s Win: Here’s Why
Let's keep this straightforward. Bitcoin is showing signs of an impressive bull run, and if things play out as expected, a target around $240,000 might be in sight. Here's why this isn't as wild as it sounds.
When we analyze Bitcoin’s range from the March 2021 high to the June 2022 low, we find a clear mid-range level that's crucial to hold. Recently, Bitcoin has broken out from this mid-range, signaling a strong bullish movement across the crypto market. As a trader, this breakout is significant – on lower timeframes, it represents a strong long trigger, meaning it's a favorable time to buy.
Looking at Bitcoin’s cyclical history, this breakout resembles the previous bull run when Bitcoin pushed past its previous highs. A weekly close above this key level without a major sell-off would be extremely bullish for Bitcoin and the entire crypto market. Dips into the $71K-$74K range could happen, but any dip should be brief and quickly bought up, maintaining the upward trend.
If history repeats itself, we might not see a pullback until Bitcoin reaches 86K, 90K, or even 100K. Right now, this market is primed for expansion, and we’re seeing early signs. The trend is up, and the momentum is building – an indication that Bitcoin might just surprise everyone by reaching new heights.
Retail traders are still on the sidelines, and major players may be quietly accumulating. If these conditions persist, we could witness a massive rally that will leave many shocked, perhaps even more than Trump’s win. This might be the perfect time to start looking for long positions and ride the trend upwards.
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