Striking target for Bitcoin: "Surprisingly positive"

The rainbow formation on the Bitcoin (BTC) price chart indicates that the potential peak of the rise is $288,000.

Analysis platform AMBCrypto drew attention with its published Bitcoin analysis. The analysis indicated that the price of BTC could reach six-digit levels, but investors may have to wait for another 6 to 9 months. The analysis emphasized that BTC is still in the accumulation phase.

The analysis that draws attention to the bull formation on the BTC chart includes the following statements;

"Surprisingly, despite the recent rallies in BTC, the rainbow chart is in the "Buy" zone. The best strategy for investors may be hodl.**"

Important signals on the Bitcoin chart

While the price of Bitcoin (BTC) holds around 67,000 dollars, the rainbow formation on the price chart has created excitement. BTC, which has a downward trending weekly structure, may be preparing for a potential cycle change.

The rainbow chart created for Bitcoin was used to evaluate the long-term trend and predict the peak of the next cycle. The chart gave an idea of whether it is a good time to buy BTC.

In BTC, where buying appetite continues, it is claimed that 50% of the halving cycle has been completed. According to the analysis, BTC will reach its peak within 336 days after the halving. It is believed that the level of $73,800 reached by BTC in March 2024 will be exceeded in the short term and new peaks will be formed.

AMBCrypto, interpreting the rainbow chart, noted the following;

"If a similar scenario occurs in this cycle, BTC will reach 288,000 dollars in March 2025 and will be in the 'Is this a bubble?' zone."

Analysis claimed that a period of profit-taking would begin as BTC reaches 288,000 dollars.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risk, and readers should conduct their own research when making decisions.