Bitcoin’s Path to $150,000

A trading expert projects that Bitcoin (BTC) will reach a record high of $150,000 soon, even as it consolidates above $80,000 amid bearish sentiment.

At the time of reporting, Bitcoin was trading at $83,863, up over 3% within 24 hours, but had dropped 7% over the week.

Bitcoin’s Path to $150,000

According to analyst TradingShot, Bitcoin is showing signs of recovery after testing its critical one-week moving average (1W MA50) recently.

In a TradingView post on March 12, the expert noted that Bitcoin has been trading within a Fibonacci-based ascending channel since the market bottom in November 2022, with the 1W MA50 acting as strong support.

The analysis highlights that Bitcoin typically follows a four-year cycle that peaks toward the end of year three. Since the current cycle began in late 2022, a peak is predicted by late 2025.

TradingShot also outlined that Bitcoin’s price rallies alternate between significant corrections and bullish surges. Corrections usually go through two phases:
1. A primary correction (over 30% drop) leads to major accumulation.
2. A secondary correction (over 20% drop) occurs before the next rally.

Historically, these corrections have led to rallies of over 100%, while secondary corrections also prompt solid recoveries. Recently, Bitcoin fell slightly below the 0.382 Fibonacci retracement level, indicating a possible bottom while suggesting a breakout could emerge by late April 2025.

Based on previous surges, Bitcoin could increase by at least 95.95%, reaching around $150,000 by late September 2025, according to TradingShot. The forecast states:
> “Bitcoin (BTCUSD) is showing the first signs of life after nearly testing the 1W MA50 (blue trend-line) early this week… it should rise by +95.95%, which gives us a straight price of $150,000 as a target.”

Another indicator is the Relative Strength Index (RSI), which dropped to 34.50, a historical level related to bottom formations. In past cycles, higher lows on the RSI indicated strong recovery points, suggesting Bitcoin is nearing the end of its correction.

Bitcoin has faced challenges breaking out due to a broader sell-off in the equities market amid uncertainties around President Donald Trump’s tariffs. Moreover, the establishment of the Bitcoin Strategic Reserve by the U.S. has not sparked investor enthusiasm.

Bitcoin Set for 8% Breakout

Short-term insights from expert Ali Martinez’s post on March 12 suggest Bitcoin may see an 8% breakout. This forecast is based on the ascending triangle pattern, indicating a bullish signal.

Currently trading around $83,000, Bitcoin has been consolidating within this pattern, creating higher lows that build pressure toward the $84,000 resistance level. A successful breakout could propel prices toward the $89,000 to $90,000 range, representing an 8% increase. Conversely, failure to break resistance may lead to a retest of support near $79,000.

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