Against the backdrop of the recent rise in the value of Bitcoin, the famous cryptocurrency analyst and trader Javon Marks, with an optimistic outlook, has predicted that the price of BTC would rise by over 18%, propelling prices to all-time highs following a bullish breakout of a bullish pennant pattern.
Bitcoin’s Next Move Could Hit $80,000 Range
This imminent peak predicted by Javon Marks could propel BTC to new heights historic highs and result in substantial gains, positioning the coin as a promising asset in the ever-evolving world of cryptocurrencies.
Last week, Javon Marks pointed out that Bitcointhe largest crypto asset by market capitalization, was showing slight signs of strength, supported by a bullish Pentacle formation.
This strength made it possible to confirm an upward trend which could lead prices towards an upward breakout. In the event of a breakout, Javon Marks anticipates a potential 17.1% rise in the asset’s price to reach the $80,000 range.
The message said:
Bitcoin (BTC) recently tested support for a bullish pennant pattern and is showing slight signs of strength. With this strength, an uptrend is confirmed, which can lead prices towards a bullish breakout. A breakout could result in a 17.1% surge to over $80,000.
However, a few days later, the crypto analyst pointed out that Bitcoin was holding back from the bullish pennant pattern after pulling back sharply. support. Reacting to this breakout, Javon Marks claims that a potential nearly +18% Bitcoin surge to $80,000 could happen soon.
Meanwhile, today the expert confirmed the breakout of the bullish pennant pattern, reiterating its 18% price rise to the $80,000 level at a much faster pace.
Javon Marks seems to be very bullish on the crypto asset, as he predicted a move to $116,652 and beyond in another post most people don’t think so. “Something is in the works here, and it may be in the early stages of unveiling right now,” the expert added.
Model release after 18-day consolidation
Javon Marks’ Analysis Aligns With That of Cryptocurrency Expert Captain Faibik outlook for the digital asset. Captain Faibik also confirmed a breakout of the bullish pennant formation in the BTC chart.
Faibik stated that BTC leaves the pattern after having undergone a consolidation phase of more than 18 days. As a result, he believes the coin could reach a new all-time high in the coming days.
At the time of writing, the price of Bitcoin increased by 1.41% to $70,000, with a market cap of over $1.38 trillion over the past day. Although the BTC price is showing a positive trend, its trading volume has decreased by more than 8% in the last 24 hours.
Featured image from iStock, chart from Tradingview.com
