On-chain indicators show that Bitcoin targets $117,000, bull market momentum is strong
CryptoChan2025/01/07 06:27
By:CryptoChan
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According to the Bitcoin Fib-Adjusted Balanced Price Bands provided by CryptoChan, on-chain data shows that Bitcoin has now surpassed Line 5 ($92,305), with clear signs of a strong rebound. The next target price is $117,666 (Line 6), and it is even expected to break through the long-term upward range of $149,551 (Line 7).
This model is based on the Balanced Price of Bitcoin and the power extension of the Fibonacci sequence ([1, 2, 3, 5, 8, 13, 21]), and has extremely high historical reference value.
- Line5 ($92,305): Key support in the near future, strong rebound momentum.
- Line6 ($117,666): Next target price, key resistance in history.
- Line7 ($149,551): Long-term potential, the ultimate price band in the bull market.
Technical Interpretation Highlights:
- The current Bitcoin price is running above important support, and the market sentiment continues to be bullish.
- Historical data shows that the Fibonacci price band has high reference value.
- Bull market momentum resonates with on-chain data, and prices are expected to break through further.
Can Bitcoin continue the expected trend of on-chain indicators and directly reach $117,666? The current market atmosphere and bullish forces are providing momentum for its continued upward trend. Let's wait and see!
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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