On-chain indicators show that Bitcoin targets $117,000, bull market momentum is strong

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CryptoChan2025/01/07 06:27

By:CryptoChan

According to the Bitcoin Fib-Adjusted Balanced Price Bands provided by CryptoChan, on-chain data shows that Bitcoin has now surpassed Line 5 ($92,305), with clear signs of a strong rebound. The next target price is $117,666 (Line 6), and it is even expected to break through the long-term upward range of $149,551 (Line 7).

This model is based on the Balanced Price of Bitcoin and the power extension of the Fibonacci sequence ([1, 2, 3, 5, 8, 13, 21]), and has extremely high historical reference value.

Line5 ($92,305): Key support in the near future, strong rebound momentum.

Line6 ($117,666): Next target price, key resistance in history.

Line7 ($149,551): Long-term potential, the ultimate price band in the bull market.

Technical Interpretation Highlights:

The current Bitcoin price is running above important support, and the market sentiment continues to be bullish.

Historical data shows that the Fibonacci price band has high reference value.

Bull market momentum resonates with on-chain data, and prices are expected to break through further.

Can Bitcoin continue the expected trend of on-chain indicators and directly reach $117,666? The current market atmosphere and bullish forces are providing momentum for its continued upward trend. Let's wait and see!

On-chain indicators show that Bitcoin targets $117,000, bull market momentum is strong image 0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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