Cryptocurrency Analyst Predicts Bitcoin Price Will Reach 120,000 USD If This Range Breaks Out

Bitcoin is currently rising high, reaching a new all-time high of (ATH) at $111,800 on May 22. Currently, cryptocurrency analyst Tony Severino has predicted that this bullish trend is likely to continue and BTC will reach $120,000 at some point. Bitcoin price will reach 120,000 dollars after breaking this range. In the post on X, Tony Severino predicts that the price of Bitcoin could reach between $116,000 and $120,000 after breaking through the $106,000 range. This prediction was made just before BTC soared past the previous ATH of $109,100 on May 21. The analyst asserts that the leading cryptocurrency could witness a "long white candle" leading to a rally to this range He has also warned that failure to break through the $106,000 range could lead to a pullback as the momentum of the lower timeframe begins to weaken. In another post, Severino explained why range breakouts are important, noting that these breakouts in the Bitcoin price tend to provide a sustainable short-term trend to move higher. He added that a valid range breakout should be supported by the RSI above 70 on the 3-day timeframe The Bitcoin price currently has an extremely bullish outlook, having risen above $110,000 and reaching a new ATH of $111,800. Commenting on the rally to the new ATH, Severino admitted he was wrong about the bear theory, saying that macro fundamentals led the technical factors in this rally

The crypto analyst is confident that the price of Bitcoin can rise even higher. In his latest analysis, he revealed that BTC's quarter has just triggered the Perfect TD9 Sell Setup. He added that the only time this happened was in Q4 2017, which was the strongest bullish quarter in crypto history. Bitcoin has finally risen by more than 350% compared to the opening candle. If history repeats itself, Severino predicts that this move will be "fast, fierce, and end" sooner than anyone can imagine. He notes that the upward direction seems to be the chosen path, which is a positive signal for Bitcoin price. A Golden Cross is coming to BTC In a post on X, cryptocurrency analyst Titan of Crypto has stated that a golden cross is coming for the price of Bitcoin. He commented that BTC is repeating the same pattern, with the Death Cross occurring before the Golden Cross. The analyst added that the last time this happened, it triggered a massive rally In another post, Titan of Crypto predicts the price of Bitcoin could rise to $135,000. He affirmed that the target is still within reach, with the possibility that BTC will reach this price this year. Meanwhile, veteran analyst Peter Brandt thinks that Bitcoin could rise to between $125,000 and $150,000 in August

At the time of writing, the price of Bitcoin is trading at around $111,300, up more than 3% in the last 24 hours, according to data from CoinMarketCap.