Bitcoin has experienced a sharp price drop in recent days, but one of the appropriate crypto analysts remains undeniable. says popular chartist eGrag Crypto Bitcoin is still in the bull marketeven with a pullback. He believes what is happening now is just part of a larger repetition pattern since the end of 2022. According to him, the cycle is not over yet, and the market still has another strong upward movement before the actual bear phase begins.
Bitcoin is held strong beyond important levels
Egrag Crypto I’ll explain that Bitcoin follows a clear pattern that has been introduced since December 2022. First, prices rise, then retest support, bouncing, slightly correcting, creating new local heights.
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The most important level to look at now is $103,000. Only in Bitcoin won’t fall Below that level, Egrag says there is no real danger. Instead, he expects another big pump to arrive before the cycle appears. His personal goals for this move range from $150,000 to $175,000. In his view, this marks the final push of the current Bull Run Before the market flips Go to the next bear stage.
Egrag emphasizes that the fix is normal along the way and should not cause panic. He believes traders are often caught up in short-term declines, unaware that they are part of a larger trend. Looking at the big picture, Bitcoin Bull Market There’s still room to run.
Similarities with gold suggest that the Bull Run is unharmed
Egrag Crypto also leads to powerful comparisons Between Bitcoin and Gold. He points out that many analysts once thought Gold had peaked at its $3,500 technology target. Instead, prices continued to rise due to what he called a short squeeze. This sudden surge, he says, was intended to lock retail buyers into “sucker gatherings.”
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He points it out The demand for gold is currently very high Even shop owners with decades of experience say they have never seen a business like this. For Egrag, this kind of hype is usually a warning that the cycle is closer to the top of it. He expects that once Russia and Ukraine restore peace, gold will ultimately drop from $600 to $1,000.
For Bitcoin, the same lesson applies. Despite his loud voice Calling Bull runningEgrag claims that the cycle is still alive. He sees the current recession as simply a pause before another important surge. He will invest around $30,000 in the next macro cycle and later spin it into a powerful altcoin. In his view, it is to maintain the patient and respect the cycle. The most effective approach.
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