After the initial drawdown, Bitcoin appears to be showing some strength as bullish momentum begins to build again. At the moment, it is still likely that the price will rise quickly, especially as players in this space appear to be preparing for the next rally. In line with this, cryptocurrency analyst Wesrad predicted that Bitcoin prices could actually double in the next wave, especially as the macro bullish structure remains firmly in place.
Why Bitcoin is heading towards around $200,000
The analysis focused on Bitcoin’s macro-bullish structure, which has held up despite multiple market crashes. This bullish macro structure pushed the price above the critical and immediate demand zone and showed immense strength even after the initial plunge below $100,000.
So far, cryptocurrencies have returned to a state of consolidation, but this is not a cause for concern as crypto analysts do not expect consolidation to last long. Rather, Wesrud believes this price movement is acting as a form of “natural pause,” while Bitcoin prices continue to move within a broader uptrend.
Another thing this move highlights is the fact that all of the recent declines have been a healthy retest for Bitcoin. If this is true, it would mean that the decline is not a reversal, but simply a healthy correction that could give more power to the next rebound.
For now, the main interest level is between $92,000 and $101,000, which has held up very well during the recent drawdown. This results in critical support level Bulls should continue to maintain these targets for the next move. maintain bullish momentum.
If this level is maintained, crypto analysts expect the price of Bitcoin to rise further. In this case, the price will more than double. The first target for the expansion wave is $142,000 to $190,000. However, it has the potential to expand further, with the digital asset reaching a high of $297,092.
As for when this move will occur, analyst charts indicate it could start as early as the end of 2025, with the actual move occurring next year. Therefore, most of this movement is expected to take a good portion of 2026 to materialize, before peaking sometime in August.
“As long as prices remain above the defined demand area, the long-term outlook remains decidedly bullish,” Wesrad explained. “Corrections within this channel are an opportunity for accumulation, not a sign of weakness.”
Featured image from Dall.E, chart from TradingView.com
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