Cryptocurrency expert and analyst Doctor Proffitt has identified areas that are important for this Bitcoin (BTC) Right now, that could potentially drive crypto asset prices to unprecedented heights very quickly.

For the most part, the cryptocurrency community has been concerned about the way Bitcoin’s price has performed over the past week. Nevertheless, doctors benefit Latest weekly update On the crypto market and Bitcoin has provided optimism for investors in the crypto space.

Bitcoin for large base up to $100,000

In his analysis, Doctor Profit explores life cycle assessment (LCA), psychological analysis and technical analysis (TA) of Bitcoin’s recent performance.

Pointing to last Sunday’s report, the analyst predicted a sideways move for Bitcoin in the long term. However, the largest cryptocurrency asset is currently hovering in the indicated upside territory, as he noted.

Experts claim that some people are unable to see the wider picture in lateral movements. Because of this, they fail to realize that price fluctuations in the 20% range are normal and even beneficial for movements in large market caps.

Thus, Bitcoin is preparing for its next big move, which will push the price above $80,000 and move towards $100,000 at high speed. He noted that this bullish side movement is referred to as an accumulation zone in trading terminology.

During this phase, the convergence of profit taking, inward investment and unsolved money practically leads to medium-term consolidation. As a result, he is bullish on the sideways trend and expects an upward trend.

Moreover, Doctor Proffitt highlighted the importance of Bitcoin’s recent breakout compared to its previous ones. All Time High (ATH) of $69,000, and calls for patience as the coin consolidates near its peak levels.

He noted:

What many fail to realize is that Bitcoin has broken through its all-time high (ATH) over the past few weeks and is now slowly building support near the ATH area. What people don’t realize is that this is a process that takes weeks.

Dr. Proffitt asserts that the market will spend weeks in golden bull territory before continuing its uptrend and entering a super cycle. “After confirming at $72,500, it won’t be long until BTC goes up Next to $70,000 And enters the super cycle,” he added.

The recent retest pattern aligns with the previous trend

The profit doctor appears to be pleased with Bitcoin retesting its previous ATH level in the $60,000 range. He highlights Bitcoin’s potential and slow transformation of the $60,000 resistance level into a solid support point, paving the way for an upcoming super cycle similar to other ATH breakouts.

“Bitcoin now looks mature enough to withstand the pressure of $60,000 and maintain its average price without any problems,” he said. Despite the ongoing corrections, the analyst urged investors to remain confident Bitcoin halving As a catalyst for impending upward growth.

Featured image from iStock, chart from Tradingview.com

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