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Bitcoin gets $125K target as trader sees 'big move' next, ETH hits $3750
Key points:
Bitcoin (BTC) circled $18,500 into Sunday’s weekly close as traders waited for a new upside BTC price breakout.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading higher after a trip below $117,000 Friday.
The pair retained much of its gains through the week, still shy of new all-time highs as consolidation took over.
Now, traders say, a resistance trend line stands in the way of Bitcoin returning to price discovery above $123,000.
“BTC is getting ready for a big move,” popular trader Marcus Corvinus told X followers in a post on the day.
Uploading a chart showing the trend line in question, Corvinus said that a breakout would take BTC/USDT to $125,000 next.
“If it breaks below support, price may fall to $111,000 or lower,” he added
“Bitcoin remains in the Range and the consolidation continues, facilitating further money flow into Altcoins,” he commented on his own chart.
Ether hits 7-month high into weekly close
As Cointelegraph reported, altcoins have returned to the radar this week as Bitcoin consolidates.
Related: Can XRP price reach $20? These charts say ‘full bull’ phase is still ahead
Of particular interest are largest altcoin Ether (ETH) and XRP (XRP), which are both fielding lofty price predictions.
“Ethereum has long ago resynchronised with its $2200-$3900 Macro Range,” summarized in part of an X post which included a chart stretching back to late 2023.
“Ethereum is the first one to move and it has basically ran back to the highs of December '24. That means that there's still a lot of upside to come,” he argued at the weekend
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.