The cryptocurrency market has been buzzing with activity lately, especially with Bitcoin (BTC) making a comeback and crypto analyst Leo Hart releasing a 6-month roadmap for the flagship crypto’s journey to new all-time highs (ATHs).
As Bitcoin edges closer to the $108,000 price level, the crypto community is keeping a close eye on the next moves that the flagship crypto might make. With BTC now trading above $100,000 once again, it seems like the crypto analyst's predictions might be unfolding as expected.
Earlier this week, crypto analyst Leo Hart shared an update on his Bitcoin price predictions, adjusting the timeline for the next stage. According to Hart, the new timeframe for BTC to reach $108,000 is in the next two weeks.
This price level is 36 days from the first quarter point in his mathematical calculation. The analyst also highlighted the green rectangle near the Power Law Trend in his accompanying chart, which shows the maximum deviation from the PLT.
The analyst explained that this Bitcoin price target is the apex, represented by the horizontal tangent to the upper boundary in the chart. For the second stage, ‘Maximum Absolute Wave Height’ (MAWH), Leo Hart stated that Bitcoin’s target at this stage is $145,500, and the timeline is two months.
This means that BTC can reach this target by July, which would mark a new ATH for the flagship crypto. The analyst noted that this price target is the peak, represented by the horizontal tangent to the upper boundary in the chart.
The third stage is the Red Zone Entry Point (RZEP), and the target is $188,000. Bitcoin is expected to reach this price level in the next four months. However, the analyst didn’t explain why BTC can hit this price level.
The fourth and final stage is called ‘Zero Gravity and Re-entry.’ He explained that beyond stage 3, market participants will enter a zero-gravity phase with unknown parameters, followed by the descent from orbit, hinting at a potential price crash.
Following this rejection, the analyst predicts that the next step is for Bitcoin to hold the $97,000 to $99,000 range as support. Once that happens, he expects the flagship crypto to break out to new ATHs. His accompanying chart suggested that BTC could rally to $110,000 in the short term.
