As a researcher, I’ve observed a 3% decrease in Bitcoin (BTC) over the past 24 hours and an 8% drop over the last week. Yet, this dip isn’t unusual for BTC during January, according to market analysts. They suggest that this could be a temporary setback, with the bull market likely to resume. The price of Bitcoin might even reach its peak around mid-July 2025, if we consider a key technical indicator.
Bitcoin’s price could peak in the summer
The data from CryptoMoon Markets Pro and TradingView shows that Bitcoin has been holding steady within a four-week price range since its significant surge in 2024, reaching an unprecedented peak of $108,268 on December 17.
Data from CryptoMoon Markets Pro and TradingView suggests that Bitcoin has been moving sideways within a four-week price range since its impressive climb in 2024, hitting an all-time high of $108,268 on December 17.
Or:
CryptoMoon Markets Pro and TradingView data indicates that Bitcoin has been confined to a four-week price range since its strong increase in 2024, reaching an unparalleled high of $108,268 on December 17.
The cost has decreased by 14% since reaching all-time highs, yet Bitcoin, based on the analysis of well-known Bitcoin trader and expert Dave the Wave, still shows potential for further growth as suggested by its 52-week simple moving average (SMA).
Over the last few weeks, numerous studies and data have offered predictions, but historically, Bitcoin has followed trends defined by the Logarithmic Growth Curve (LGC). Specifically, when the Simple Moving Average (SMA) for a 52-week period touches the middle line of the channel, the price of BTC tends to peak.
In a January 13th post on X, Dave the Wave noted that the peak in Bitcoin price occurred when the one-year moving average aligned with the middle line of the LGC channel.
“The suggestion of a mid-year #BTC peak here.”
Instead, note that historically, the chart’s depiction shows that the price tends to reach its highest point either a few days or months before or after the Simple Moving Average (SMA) crosses the Linear Regression Channel’s midline. For instance, in 2013, the peak price was observed on December 13, coinciding with the day when the 52-week SMA provided a top signal for Bitcoin.
2017 saw Bitcoin reach its highest point on December 17th, but a significant peak indicator didn’t appear until January 15, 2018. During the 2021 bull market, when Bitcoin hit $69,000 on November 10th, the 52-week Simple Moving Average (SMA) signaled months ahead on May 3rd instead.
In simpler terms, it’s possible that the peak of Bitcoin in 2025 could occur within a short timeframe, either before or after the Simple Moving Average (SMA) line intersects the Middle Line of the Long-term Growth Channel (LGC), which is projected around mid-July. This could signal a potential decline for Bitcoin.
Dave the Wave emphasized that a less pronounced yearly moving average indicates a “market approaching maturity.
Bitcoin price correction in “its final stages”
Currently, well-known cryptocurrency analyst Rekt Capital suggests that the current Bitcoin price stabilization is a “price discovery correction,” typically happening within weeks 6 to 8 during a parabolic phase. Such corrections can persist for approximately two to four weeks.
For the past four weeks, we’ve seen a continuous retracement, as Rekt Capital pointed out in his analysis on X dated January 11.
“Length-wise, history, therefore, suggests this correction should be in its final stages.”
Analyst Axel Adler Jr. commented that the present decline in Bitcoin isn’t as intense as the previous period of consolidation back in 2024, during which Bitcoin fell over 26% from July 29 to Aug. 5.
As a crypto investor, I’ve noticed that it’s typical for a modest correction at the start of the year in periods following a halving event. This seems to be the pattern analysts have observed.
Currently, experienced trader Peter Brandt posted a chart suggesting that Bitcoin might have created a head-and-shoulders (H&S) pattern on the daily scale. This pattern could lead to three different scenarios.
Initially, Brandt posited that Bitcoin could potentially follow the predicted pattern, culminate the current trend, and drop to a level around $77,000, as suggested by the Head and Shoulders (H&S) formation.
Bear trap” refers to a bearish price pattern that appears deceptive and invites sell orders, only to reverse direction and cause losses for those who fell for it.)
Moreover, analyst Bitcoin Munger noticed significant buy orders accumulating between $85,000 and $92,000 on Binance, leading him to speculate if Bitcoin’s price could dip to meet these bids or surge to match the sell orders at $110,000.
“Be prepared for either scenario as I believe $110k is coming either way.”
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2025-01-13 15:47