In a post shared on X with his 700,000 followers, market veteran CRYPTO\u20bfIRB (@crypto_birb) outlined what he believes could be one of Bitcoin\u2019s final major pullbacks before an eventual surge to a six-figure price target. In his own words: \u201cBTC LAST DIPS BEFORE $273K? Here\u2019s why:\u201d He backed up this claim with a series of concise bullet points covering market trends, technical signals, and historical data.<\/p>\n
CRYPTO\u20bfIRB\u2019s analysis<\/a> begins with a description of the \u201cBull Market\u201d environment, noting that both the 200-week and 50-week moving averages are rising. These long-term trends often reflect a broader shift in market sentiment.<\/p>\n He also references the latest data on Bitcoin exchange-traded funds, pointing to total assets under management (AUM) of $121 billion, alongside a substantial trading volume of $746 billion. Another key metric highlighted is the Net Unrealized Profit and Loss (NUPL)<\/a>, which he places at 0.54, suggesting that more traders are in profit than those at a loss. He observes a seven-week correlation to the S&P 500<\/a> at 0.25, signaling only a moderate linkage between Bitcoin and the traditional equity market over that period.<\/p>\n The analyst then addresses the \u201cDaily Trend,\u201d indicating that he sees Bitcoin oscillating within a range of $90,000 to $110,000 for now. He situates the 200-day Simple Moving Average at about $80,200 and emphasizes that this figure is trending upward. CRYPTO\u20bfIRB also explains that the proprietary 200-day BPRO indicator sits at approximately $94,400, which he views as another sign of strengthening momentum, despite a 50-day RSI at 42. An RSI below 50 often points to cooled market momentum, yet he notes that volatility appears stalled for the moment, with an Average True Range of $3,360 suggesting that price swings have softened compared to previous periods.<\/p>\n Turning to his \u201cTrade Setup,\u201d CRYPTO\u20bfIRB highlights that he sees certain bearish configurations on his 12-hour BPRO CTF and HTF Trailer indicators. He describes market conditions as choppy, with resistance appearing around the $99,700 to $103,100 range. This implies that if Bitcoin fails to break above that resistance level, short-term pullbacks or sideways activity could continue until buyers regain control.<\/p>\n