Dutch analyst Gert van Lagen predicts Bitcoin could soar to between $270,000 and $300,000, following the completion of bullish chart patterns—the megaphone and parabolic structures. While currently priced at $97,501, short- and long-term forecasts by Coincodex suggest upward momentum in the coming months. Market sentiment remains neutral, with potential price targets of $107,605 and $130,902 within the next month.

Gert van Lagen, a Dutch crypto analyst, has expressed a bold bullish prediction regarding Bitcoin’s potential price surge in the current bull cycle, particularly during a period of market consolidation. Despite minimal price movement in recent days, van Lagen’s analysis suggests that Bitcoin may be positioned for a significant increase in value, reinforced by two notable chart patterns: the bullish megaphone and the parabolic step-like formation.

The bullish megaphone pattern, characterized by a series of higher highs and lower lows, typically indicates increased volatility and a potential breakout upward. Van Lagen observes that Bitcoin has recently broken from this pattern and has spent approximately three months retesting the upper boundary, which now serves as a support zone. This confirms the pattern’s validity and suggests an imminent price rally.

In addition, van Lagen references the parabolic step-like formation, which signifies Bitcoin’s historical bull market structure, where price movement occurs in stages with consolidation at each level. According to the analyst, Bitcoin has progressed beyond the final base stage, coinciding with the completion of the bullish megaphone pattern. He predicts Bitcoin could surge to a peak ranging between $270,000 and $300,000 during this bull cycle.

As of the latest update, Bitcoin’s price stands at $97,501, reflecting a slight decline of 0.38% over the past 24 hours. Despite a weekly gain of 1.14%, the cryptocurrency has experienced a monthly loss of 2.42%. Coincodex data indicates a neutral market sentiment, with the Fear & Greed Index at 50, highlighting investor uncertainty.

Looking ahead, Coincodex analysts foresee Bitcoin reaching $107,605 within five days and $130,902 in one month. In the long-term, they anticipate prices escalating to $158,696 in three months and $174,820 in six months.

In conclusion, Gert van Lagen’s analysis presents a compelling case for Bitcoin’s potential surge to $270,000-$300,000, supported by significant chart patterns. As the cryptocurrency currently trades at $97,501, market sentiment remains neutral, yet short- and long-term price projections suggest an upward trajectory. Investors may closely monitor Bitcoin’s next moves, as the structure of its price actions indicates a critical point in the current bull cycle.

Original Source: bitcoinist.com

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