{"id":577102,"date":"2024-02-27T19:00:15","date_gmt":"2024-02-27T19:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=577102"},"modified":"2024-06-11T07:46:34","modified_gmt":"2024-06-11T07:46:34","slug":"bitcoin-maximalist-forecasts-god-candle-formation-propelling-btc-to-100000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-maximalist-forecasts-god-candle-formation-propelling-btc-to-100000\/","title":{"rendered":"Bitcoin Maximalist Forecasts \u2018God Candle\u2019 Formation Propelling BTC To $100,000"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin (BTC) has witnessed a remarkable ascent, surpassing the $57,000 mark and recording a year-to-date surge of over 142%. The cryptocurrency&#8217;s market capitalization has also surged towards $1.14 billion, reaching levels not seen since December 2021. With the previous <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitwise-ceo-bitcoin-ipo-moment-what-it-means-for-price\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">all-time high<\/span><\/a><span style=\"font-weight: 400\"> (ATH) of $69,000 within sight, the bullish sentiment surrounding Bitcoin is becoming increasingly evident.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Setting Eyes On $100,000 And $200,000.<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Prominent Bitcoin maximalist Max Keiser, known for his optimism even during the harshest bear markets, has <\/span><a href=\"https:\/\/x.com\/maxkeiser\/status\/33440754?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">suggested <\/span><\/a><span style=\"font-weight: 400\">the possibility of a &#8220;God Candle&#8221; scenario given the current market conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To provide further context, this term describes a vast and powerful candlestick pattern on a price chart that indicates a significant and sudden price movement. According to <a href=\"https:\/\/uniquehot.com\/news\/bull-run-returns-bitcoin-breaks-through-57000-barrier\/\" target=\"_blank\" rel=\"noopener \">Keiser<\/a>, if such a pattern were to emerge, it could propel Bitcoin toward the $100,000 price level, shattering its previous record<\/span><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Traders and analysts interpret a &#8220;God Candle&#8221; as a highly bullish signal, reflecting robust buying pressure and the potential for a trend reversal or continuation. It often signifies a notable shift in market sentiment and catalyzes further price appreciation.<\/span><\/p>\n<div class=\"jeg_meta_container\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-surges-to-new-26-month-high-whales-go-parabolic-as-analyst-forecasts-rally-toward-60500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Surges To New 26-Month High, \u2018Whales Go Parabolic\u2019 As Analyst Forecasts Rally Toward $60,500<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">Adding to the optimistic outlook for Bitcoin, crypto analyst Gert van Lagen has <\/span><a href=\"https:\/\/x.com\/GertvanLagen\/status\/62560770?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">projected <\/span><\/a><span style=\"font-weight: 400\">a target of $200,000 for BTC. Analyzing the 1-week chart, van Lagen notes that Bitcoin&#8217;s price has been following a \u201cparabolic trajectory\u201d since November 2022 and is on track to reach $200,000 soon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the analyst, this parabolic pattern aligns with the previous fifth sub-waves that have historically similarly intersected the blue trendline, as seen in the chart below.\u00a0<\/span><\/p>\n<figure id=\"attachment_577105\" aria-describedby=\"caption-attachment-577105\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-577105\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=860&#038;resize=860%2C725\" alt=\"Bitcoin \" width=\"860\" height=\"725\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=1190 1190w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/GHSMHHxXwAAoexH.jpeg?w=1140 1140w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-577105\" class=\"wp-caption-text\">BTC&#8217;s price targets are based on previous parabolic patterns. Source: <a href=\"https:\/\/x.com\/GertvanLagen\/status\/62560770?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Gert van Lagen on X<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Notably, van Lagen points out that a breach of the 78.6% Fibonacci retracement level, which Bitcoin has already crossed, tends to trigger an immediate parabolic spike.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Finally, the analyst highlights the rising risk-on sentiment in the stock market and the strong correlation between Bitcoin and the <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-surges-to-new-26-month-high-whales-go-parabolic-as-analyst-forecasts-rally-toward-60500\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">S&amp;P 500<\/span><\/a><span style=\"font-weight: 400\"> since late 2021 as additional support for this bullish forecast.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bull Market Cycle For Bitcoin Until 2025?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Renowned market expert Peter Brandt <\/span><a href=\"https:\/\/x.com\/PeterLBrandt\/status\/56308957?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">revised <\/span><\/a><span style=\"font-weight: 400\">his Bitcoin price target in a recent post on social media X (formerly Twitter), raising it from $120,000 to $200,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Brandt attributes this adjustment to Bitcoin&#8217;s recent breakthrough above the upper boundary of a 15-month channel, indicating a potential bull market cycle until August or September 2025. However, the analyst says a close below last week&#8217;s low of $50,600 would invalidate this interpretation.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/ethereum-outperforms-bitcoin\/\" target=\"_blank\" rel=\"noopener \">Ethereum Outperforms Bitcoin As Institutional Investors Clamor For ETH Exposure<\/a><\/div>\n<p><span style=\"font-weight: 400\">As Brandt points out, the $50,600 price level represents a 1-week resistance level for the largest cryptocurrency on the market, which, in the event of a<\/span><a href=\"https:\/\/uniquehot.com\/analysis\/sol-price-restarts-rally-solana-surge-10\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> price correction<\/span><\/a><span style=\"font-weight: 400\">, as has historically happened whenever a sudden price spike occurs in BTC&#8217;s price action, Bitcoin would likely retest the $49,900 support level on its weekly chart. A drop towards $47,000 could be imminent in a more extreme scenario.<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/MH0fuCog\/\" alt=\"Bitcoin \" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">The daily chart shows BTC&#8217;s price trending upward. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">However, with Bitcoin currently trading at $56,800, up 4.2% in the last 24 hours, its <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-rally-3250\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">bullish uptrend<\/span><\/a><span style=\"font-weight: 400\"> seems far from over, potentially leading to a parabolic continuation of its price, as van Lagen and other analysts suggested.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Featured image from Shutterstock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has witnessed a remarkable ascent, surpassing the $57,000 mark and recording a year-to-date surge of over 142%. The cryptocurrency&#8217;s market capitalization has also surged towards $1.14 billion, reaching levels not seen since December 2021. With the previous all-time high (ATH) of $69,000 within sight, the bullish sentiment surrounding Bitcoin is becoming increasingly evident. Setting Eyes On $100,000 And $200,000. Prominent Bitcoin maximalist Max Keiser, known for his optimism even during the harshest bear markets, has suggested the possibility of a &#8220;God Candle&#8221; scenario given the current market conditions. To provide further context, this term describes a vast and powerful candlestick pattern on a price chart that indicates a significant and sudden price movement. According to Keiser, if such a pattern were to emerge, it could propel Bitcoin toward the $100,000 price level, shattering its previous record.\u00a0 Traders and analysts interpret a &#8220;God Candle&#8221; as a highly bullish signal, reflecting robust buying pressure and the potential for a trend reversal or continuation. It often signifies a notable shift in market sentiment and catalyzes further price appreciation. Related Reading: Bitcoin Surges To New 26-Month High, \u2018Whales Go Parabolic\u2019 As Analyst Forecasts Rally Toward $60,500 Adding to the optimistic outlook for Bitcoin, crypto analyst Gert van Lagen has projected a target of $200,000 for BTC. Analyzing the 1-week chart, van Lagen notes that Bitcoin&#8217;s price has been following a \u201cparabolic trajectory\u201d since November 2022 and is on track to reach $200,000 soon.\u00a0 According to the analyst, this parabolic pattern aligns with the previous fifth sub-waves that have historically similarly intersected the blue trendline, as seen in the chart below.\u00a0 Notably, van Lagen points out that a breach of the 78.6% Fibonacci retracement level, which Bitcoin has already crossed, tends to trigger an immediate parabolic spike. Finally, the analyst highlights the rising risk-on sentiment in the stock market and the strong correlation between Bitcoin and the S&amp;P 500 since late 2021 as additional support for this bullish forecast. Bull Market Cycle For Bitcoin Until 2025? Renowned market expert Peter Brandt revised his Bitcoin price target in a recent post on social media X (formerly Twitter), raising it from $120,000 to $200,000.\u00a0 Brandt attributes this adjustment to Bitcoin&#8217;s recent breakthrough above the upper boundary of a 15-month channel, indicating a potential bull market cycle until August or September 2025. However, the analyst says a close below last week&#8217;s low of $50,600 would invalidate this interpretation.\u00a0 Related Reading: Ethereum Outperforms Bitcoin As Institutional Investors Clamor For ETH Exposure As Brandt points out, the $50,600 price level represents a 1-week resistance level for the largest cryptocurrency on the market, which, in the event of a price correction, as has historically happened whenever a sudden price spike occurs in BTC&#8217;s price action, Bitcoin would likely retest the $49,900 support level on its weekly chart. A drop towards $47,000 could be imminent in a more extreme scenario. However, with Bitcoin currently trading at $56,800, up 4.2% in the last 24 hours, its bullish uptrend seems far from over, potentially leading to a parabolic continuation of its price, as van Lagen and other analysts suggested. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":577103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,485,656,679,7756,755,768,1119,1144,8390,78790,6664,1558],"class_list":["post-577102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-signals","tag-bitcoin-technical-analysis","tag-bitcoin-trading","tag-btc","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Bitcoin Maximalist Forecasts \u2018God Candle\u2019 Formation Propelling BTC To $100,000<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) has witnessed a remarkable ascent, 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