Crypto trader James Wynn has predicted that the Bitcoin price rally is not done, with an all-time high expected to happen soon.

This comes as the Bitcoin price has continued to stall between $102,000 and $106,000 with no discernible pattern that could point to where the price could be headed next.

Crypto trader James Wynn has predicted that the Bitcoin price rally is not done, and he expects to see the cryptocurrency hit a new all-time high very soon. This comes as the Bitcoin price has continued to stall between $102,000 and $106,000 with no discernible pattern that could point to where the price could be headed next.

While the new all-time high prediction has not come as a surprise to crypto investors, the tight time frame given for the price to hit this target has caught attention.

Crypto trader James Wynn says that Bitcoin bulls are still in control.

After marking its local bottom at $74,000, the Bitcoin price has managed to stay in the tight channel between $102,000 and $106,000. This is despite testing major support at $94,000 and failing to break below.

With the Bitcoin price now testing major support levels without falling below, this backs up the thesis that the BTC price would not be falling again. This is despite the fakeout that happened through the weekend, which saw the price drop to $99,000 before bouncing back up.

Attributing the reversal to market makers pushing the price down in order to liquidate late longs, the crypto trader explains that with so many positions already liquidated, there is no longer a reason for the feds to keep pushing the price down.

For now, the price is showing a lot of strength above $100,000 and the trader believes that this is due to the fact that there is now huge psychological support at $100,000. Furthermore, he explains that even market makers may not have the force required to push the price below this level.

BTC Turning Bullish On The Charts

In addition to psychological support forming at $100,000, the Bitcoin price has also been showing a lot of strength on the chart. For one, James Wynn points out that bulls were engulfing candles on the hourly.

As a result of this, panic selling saw weak hands pushed out, as well as market makers running out of steam. Another interesting development is the fact that the Bitcoin price is finally bullish on the weekly MACD.

This is importance because the last time that the weekly MACD was bullish was back in November and December 2024. This was when the Bitcoin price had rallied to put in a new all-time high.

The current bearish forces plaguing the market is what the analyst refers to as short-term noise before the next run-up. The target for the Bitcoin price? $118,000 and he expects this to happen by the end of next week.

If this happens, then BTC could be seeing new peaks in May and going into June with a bullish streak. “Don’t fumble your bag, follow proper risk management and look forward to the new highs,” Wynn told his followers.

Wynn has shot up in popularity in the crypto community for his high leverage and often profitable trades on the Hyperliquid platform. So far, he has done more than $3.7 billion in trading volume on the platform with a PNL of almost $50 million and his account balance now sitting above the $58.4 million mark, making him a top 5 trader on the platform.