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      Bitcoin Set for Explosive Rally: $100k Next?

      Bitcoin (BTC) hit a record high of over $73,000 in March. Many believe that $100,000 is the next target. This goal seems possible, according to crypto trading expert TradingShot. They noted that Bitcoin might be on the verge of a major price increase.

      In a TradingView post on May 29, TradingShot shared insights suggesting Bitcoin is entering the final and most intense phase of its current bull cycle, known as the parabolic rally. 

      “Bitcoin is starting the final and most aggressive part of the current Bull Cycle: the Parabolic Rally. The latest and perhaps the strongest signal to confirm that comes from the well known liquidity combo indicators that we have developed these past few years,” the expert said. 

      Key Signs Show Bitcoin’s Parabolic Rally Ahead

      Key indicators for this rally include the global bonds yield pool, circulating liquidity, high-yield corporate bonds, and the stochastic relative strength index (RSI).

      Key Signs Show Bitcoin’s Parabolic Rally Ahead.

      The analyst mentioned that the global bond yield pool has reversed upwards for the first time this year. Historically, such reversals have led to significant rises in Bitcoin’s price. 

      Additionally, the dominant circulating liquidity and high-yield corporate bonds indicators have turned upwards after hitting a bottom. Similar patterns were seen in April 2020, October 2016, and July 2012, followed by major Bitcoin rallies.

      The stochastic RSI, a momentum indicator, has just moved above the overbought 80 mark in the two-month timeframe. This event has historically triggered bullish reversals in liquidity indicators, leading Bitcoin to reach a cycle top within 12 to 13 months.

      TradingShot’s analysis also compared current trends to previous Bitcoin bull cycles. They found that reversals in liquidity indicators and the breach of the overbought barrier on the Stoch RSI have historically led to massive price increases.

      “Every time it has done so historically, it has coincided with a massive bullish reversal on those Liquidity Indicators (LI) and Bitcoin made a Cycle top within 12 – 13 months later. As a result, we are expecting BTC to peak a year from now, around May 2025. Brace yourself for a wild ride ahead,” TradingShot added. 

      If this projection comes true, it would be good news for Bitcoin investors. Bitcoin has returned to trading around $67,000, indicating a significant price movement may be on the horizon due to ongoing market struggles between bears and bulls.

      Bitcoin's Lengthy Consolidation Period

      Recently, Bitcoin hit $71,500 amid excitement over the Ethereum (ETH) exchange-traded fund (ETF), which turned out to be a bull trap. Despite this, Bitcoin stayed above $67,000 support.

      During this consolidation, crypto analyst Rekt Capital suggested on May 28 that investors might see extended sideways trading between $60,000 and $70,000 before any major rally.

      “Bitcoin is increasingly showing signs that this recent rebound has fed into the formation of another local top (blue square). Ultimately, history suggests Bitcoin is going to likely continue consolidating between ~$60,000 & ~$70,000,” he said.

Bitcoin forming local top, likely consolidating between $60K and $70K.
      Yana is a writer specializing in the latest crypto trends and news. She consistently shares fresh, useful, and interesting information. Her content is known for its clarity and accessibility. Yana simplifies complex crypto topics, making them accessible to everyone through her articles, blog posts, and newsletters.