Meanwhile, Bitcoin recorded a significant price rally between January 2024 and March 2024, a historical move CryptoCon believes the flagship crypto needs to mirror to reach this target. Related Reading: Bitcoin Price Crash Not The End Of The Road As Analyst Shares Roadmap To $200,000 The analyst remarked that it might seem ridiculous, but he asserted that a run to this $166,000 target next month is not far-fetched.
The analyst further revealed what needs to happen for the flagship crypto to reach this ambitious price target. What Determines The Bitcoin Price Rally To $166,000 In an X post, CryptoCon stated that the Bitcoin price simply needs to mirror its last year’s move in order to reach the next rung on this hyper-accurate extension in March.
As long as BTC continues to hold this support zone, he expects some further consolidation around this area. Related Reading: Bitcoin 4th Wave Ends With Price Crash To $91,000, 5th Wave Shows $210,000 Is Coming The crypto analyst also drew attention to a potential PO3 that was forming for the Bitcoin price at these levels.
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