{"id":563954,"date":"2023-03-15T14:26:38","date_gmt":"2023-03-15T11:26:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move\/"},"modified":"2023-03-15T14:26:38","modified_gmt":"2023-03-15T11:26:38","slug":"bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move\/","title":{"rendered":"# Bitcoin to $100K next? Analyst eyes &#8216;textbook perfect&#8217; BTC price move"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4073f0330da\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4073f0330da\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move\/#%E2%80%9D_Bitcoin_to_100K_next_Analyst_eyes_%E2%80%98textbook_perfect_BTC_price_move_%E2%80%9C\" >&#8221; Bitcoin to $100K next? Analyst eyes &#8216;textbook perfect&#8217; BTC price move &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move\/#Edwards_on_BTC_price_The_%E2%80%9Cbottom_is_back%E2%80%9D\" >Edwards on BTC price: The &#8220;bottom is back&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-to-100k-next-analyst-eyes-textbook-perfect-btc-price-move\/#Key_Bitcoin_price_resistance_ahead\" >Key Bitcoin price resistance ahead<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_to_100K_next_Analyst_eyes_%E2%80%98textbook_perfect_BTC_price_move_%E2%80%9C\"><\/span>&#8221; Bitcoin to $100K next? Analyst eyes &#8216;textbook perfect&#8217; BTC price move &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bitcoin (BTC) is setting up a classic trading move, which could see it hit a giant $100,000, one analyst says.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/caprioleio\/status\/1635851147687907329\/photo\/1\">tweet<\/a> on March 14, Charles Edwards, founder and CEO of investment firm Capriole, called BTC price action in 2023 a \u201cbump &amp; run reversal.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Edwards_on_BTC_price_The_%E2%80%9Cbottom_is_back%E2%80%9D\"><\/span>Edwards on BTC price: The &#8220;bottom is back&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Having passed $26,000 to hit new nine-month highs this week, BTC\/USD is in the midst of a recovery rarely seen before.<\/p>\n<p>Despite cooling under $25,000 at the time of writing, longer timeframes are already getting analysts excited after the brutal 2022 bear market.<\/p>\n<p>For Edwards, Bitcoin in 2023 has been straight out of the markets textbooks.\u00a0The largest cryptocurrency is attempting to fulfil a &#8220;bump and run reversal pattern,&#8221; he believes.<\/p>\n<p>The bottom phase of bump and run is defined by investment resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/wealthyeducation.com\/bump-and-run-reversal-pattern\/\">Wealthy Education<\/a> as follows:<\/p>\n<blockquote><p>&#8220;The bump-and-run reversal bottom is a bullish reversal pattern that begins with a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of descending peaks. Excessive speculation drives prices down until reaching extreme lows. The price action then reverses direction to the upside and marks the end of the downtrend.&#8221;<\/p><\/blockquote>\n<p>\u201cTextbook perfect Bitcoin \u2018Bump &amp; Run Reversal\u2019 bottom is back and the target is over $100,000.\u201d Edwards summarized.<\/p>\n<p>Accompanying charts described the bump &amp; run phenomenon, showing BTC\/USD in the latter stages of its trend break and currently cementing a key resistance\/support flip.<\/p>\n<p>What h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens next \u2014 the so-called \u201cuphill run\u201d \u2014 gives the pair a six-figure target.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/7f0b45fc-1495-482d-bd48-3619aeae8fa6.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Charles Edwards\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Edwards nonetheless acknowledged that like any chart pattern, bump &amp; run may \u201cfail\u201d and as such should not be used as the basis for a trading or investment strategy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Bitcoin_price_resistance_ahead\"><\/span>Key Bitcoin price resistance ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For others, sky-high BTC price valuations remain fantasy.<\/p>\n<p><strong><em>Related:\u00a0Fed starts \u2018stealth QE\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Directly above current spot price lies an area of heavy resistance that Bitcoin bulls have failed to overcome so far. Key moving averages (MAs) on weekly timeframes likewise remain unchallenged.<\/p>\n<p>\u201cBest case scenario for BTC is to break the 200 MA on this current move,\u201d trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1635611236963581952\">argued<\/a> about the current interplay between BTC\/USD and the 200-week MA.<\/p>\n<p>He showed that previous rejections had delivered double-figure losses.<\/p>\n<p>\u201cClearly, the 200 MA is weakening as resistance. However, what if the 200 MA rejections are declining by 10% each time?\u201d he continued. <\/p>\n<blockquote><p>\u201cIf BTC fails to break the 200 MA soon, could BTC reject by -12%?\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/f03c1755-a18e-4df8-b19d-c4c10c8ed472.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Analyst eyes &#8216;textbook perfect&#8217; BTC price move &#8220; Bitcoin (BTC) is setting up a classic trading move, which could see it hit a giant $100,000, one analyst says. In a tweet on March 14, Charles Edwards, founder and CEO of investment firm Capriole, called BTC price action in 2023 a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":563955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/9fcd93cb-534f-4abd-a5fe-11334ecdf7e9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-563954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=563954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/563955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=563954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=563954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=563954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}