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The Bitcoin price has shown a bullish pattern that could cause it to rally to between $150,000 and $170,000. Crypto analyst Gert van Lagen revealed how this could happen and what could come next after this price surge. Bitcoin Price To Rally To As High As $170,000 Following Wave Formation The Bitcoin price is set to rally to as high as $170,000 following a wave formation. In an X post, Gert van Lagen revealed that Bitcoin had confirmed blow-off wave 5 within the $150,000 and $180,000 range by recently reaching a new all-time high (ATH) of $109,000. Following this development, the analyst stated that the flagship crypto is now aiming to reach between $150,000 and $170,000. Related Reading: Bitcoin Upper Band Moves Above $105,400 – Where Price Is Headed Next Once the Bitcoin price rallies to between $150,000 and $170,000, Gert Van Lagen predicts that a retracement to as low as $120,000 will follow, with claims of a top. However, the rally to $170,000 won’t mark the cycle top for the flagship crypto as the analyst there will be another parabolic rally to the upside, which will be the wave v to complete the fifth wave. Gert van Lagen predicts that the Bitcoin price will rally to as high as $300,000 on the last leg of this cycle, which would end the bull market. His accompanying chart showed that BTC could reach this price target by April. This isn’t the first time the analyst has predicted that the flagship crypto could rally to as high as $300,000. He previously highlighted a cup and handle pattern, which put the final ascent for BTC at this price target. BTC Rally To $158,000 Still In Play Crypto analyst Titan of Crypto also provided a bullish outlook for the Bitcoin price, stating that the projected rally to the $158,000 target is still in play. This target came about when he highlighted a bullish pennant forming on BTC’s monthly timeframe. The analyst remarked that Bitcoin could catapult to the moon if this bullish pattern plays out. Related Reading: Bitcoin Price Above $100,000 Renews Hope, Analyst Reveals The Cycle Top Meanwhile, in another X post, Titan of Crypto mentioned that the flagship crypto is back to its bullish momentum as it looks “extremely bullish” on the daily chart. This was based on his Ichimoku Cloud analysis, in which he pointed out that the cloud was turning bullish. Amid these bullish outlooks for the Bitcoin price, crypto analyst Justin Bennett has warned that the flagship crypto could drop to as low as $91,000. He remarked that Bitcoin pumped into Trump’s inauguration, so there is a good chance that the rally fades from here. The analyst added that BTC is range-bound until proven otherwise and that the January 13th lower wick at $91,000 looks primed for a retest. At the time of writing, the Bitcoin price is trading at around $105,402, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
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Bitcoin bitcoin Bitcoin news bitcoin price btc BTC news btc price btcusd BTCUSDT CoinMarketCap cup and handle formation Donald Trump`s Inauguration Gert Van Lagen Ichimoku Cloud Analysis Justin Bennett Titan Of Crypto
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TORN Surges Over 150% After US Appeals Court Lifted Tornado Cash Sanctions
On Jan. 22, TORN, the native token of Tornado Cash, skyrocketed by over 150% after a U.S. appeals court revoked the U.S. Treasury’s Office of Foreign Assets Control (OFAC) decision to sanction the cryptocurrency mixer. Tornado Cash’s TORN surged following the court ruling to as high as $25.48 from $8.12, the highest since November 2024. At the time of writing, TORN was trading at $16.3, up by 102% in the last 24 hours. In a historic court ruling for the crypto industry, the United States Court of Appeals for the Fifth Circuit said in a Jan. 21 filing that “the judgment of the district court is reversed,” as “ we hold that Tornado Cash’s immutable smart contracts (the lines of privacy-enabling software code) are not the `property` of a foreign national or entity, meaning (1) they cannot be blocked under IEEPA, and (2) OFAC overstepped its congressionally defined authority,” the court said referring to the International Emergency Economic Powers Act. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io NewsBTC
XRP Price Pauses Rally: Healthy Pullback or Reversal Ahead?
XRP price struggled to continue higher above the $3.30 level. The price is now correcting gains and might find bids near the $3.00 level. XRP price started a downside correction from the $3.30 zone. The price is now trading below $3.20 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3.1450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $3.00 support. XRP Price Dips Again XRP price managed to start a fresh increase from the $3.120 support zone, but upsides were limited compared to Bitcoin . The price was able to surpass the $3.250 level before the bears appeared. A high was formed at $3.285 and the price recently started a downside correction. There was a move below the $3.20 support. The price dipped below the 50% Fib retracement level of the upward move from the $3.012 swing low to the $3.285 high. Besides, there was a break below a connecting bullish trend line with support at $3.1450 on the hourly chart of the XRP/USD pair. The price is now trading below $3.20 and the 100-hourly Simple Moving Average. It is now holding the 61.8% Fib retracement level of the upward move from the $3.012 swing low to the $3.285 high. On the upside, the price might face resistance near the $3.150 level. The first major resistance is near the $3.20 level. The next resistance is $3.250. A clear move above the $3.250 resistance might send the price toward the $3.30 resistance. Any more gains might send the price toward the $3.4250 resistance or even $3.450 in the near term. The next major hurdle for the bulls might be $3.50. More Losses? If XRP fails to clear the $3.20 resistance zone, it could start another decline. Initial support on the downside is near the $3.120 level. The next major support is near the $3.00 level. If there is a downside break and a close below the $3.00 level, the price might continue to decline toward the $2.880 support. The next major support sits near the $2.750 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $3.120 and $3.00. Major Resistance Levels – $3.20 and $3.250. NewsBTC
