Bitcoin (BTC) is holding steady at around $103,000, but the calm could be the eye of the storm.<\/p>\n
With volatility compressing and the CME gap still looming like a ghost at $91,970, crypto analysts are torn on whether BTC is headed for glory at $175,000 or prepping for a brutal fakeout.<\/p>\n
Egrag Crypto isn\u2019t mincing words. In a recent X post<\/a>, the analyst, more well-known for his takes on XRP, proclaimed that Bitcoin going to $175,000 was \u201cSolid as a Rock!\u201d According to him, that price region is BTC\u2019s \u201ccycle top,\u201d referencing historical EMA breakouts and a 10X extension from 2017\u2019s $20,000 peak.<\/p>\n The crypto trader pointed out that, in the past, Bitcoin pumped hard whenever it closed above the 21-week EMA. His breakdown: Pump 1, 60%; pump 2, 170%; pump 3, 75%. That\u2019s an average jump of 101%, which Egrag applied directly to the market\u2019s post-April 21 momentum to reach the $175,000 price level. \u201cMen lie, women lie, numbers don\u2019t,\u201d he quipped.<\/p>\n However, not everyone is dancing. Investor Daan Crypto Trades is painting<\/a> a sobering picture of weekend stagnation and low volatility, with BTC locked in a tight $101,000 to $105,000 range. \u201cWe won\u2019t see that much action from Bitcoin for now,\u201d he shrugged, citing low liquidity over the weekend and a possible breakout looming.<\/p>\n Still, an unfilled CME gap between $91,970 and $92,520 feels like the real twist. Some traders believe BTC must revisit this zone before any meaningful climb can happen.<\/p>\n \u201cFrom the current price, BTC would need to drop around 12% to close this gap,\u201d Egrag Crypto wrote. However, he predicted<\/a> there was more likelihood of a rally through the $130,000 to $140,000 Fibonacci levels before a 33% correction, followed by a final push to his fabled $175,000.<\/p>\n At the time of this writing, BTC was still 4.9% below its all-time high<\/a> set in January. Its latest price represents a slight 0.4% dip in the last seven days, but it has still outperformed the broader crypto market\u2019s 1.6% drop in the same period.<\/p>\n The next move is critical: will the flagship crypto blast off to $175,000 as the permabulls promise, or will the CME gap drag it down first?<\/p>\n The post Bitcoin to $175K? Analyst Says Moon Mission Is \u2018Solid as a Rock!\u2019<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) is holding steady at around $103,000, but the calm could be the eye of the storm. With volatility compressing and the CME gap still looming like a ghost at $91,970, crypto analysts are torn on whether BTC is headed for glory at $175,000 or prepping for a brutal fakeout. The Bull Case: $175K […]<\/p>\n","protected":false},"author":0,"featured_media":67082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-67081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67081"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67081"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/67082"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Bearish Wrinkles<\/h2>\n