Bitcoin Bull Market Intact Despite Crash; Rally to $150K-$175K
Technical analyst Egrag Crypto argues that the Bitcoin bull market remains intact despite the recent sharp price crash. He highlights a repeating cycle since December 2022: surge, support retest, rebound, minor correction and new highs. The key level to watch is $103,000; as long as Bitcoin stays above it, further upside is likely. Egrag forecasts one final rally to between $150,000 and $175,000 before the bull market ends. The Bitcoin bull market is expected to culminate after this final surge. Drawing parallels with gold’s squeeze rally, he stresses that corrections are normal within a bullish cycle. He plans to deploy $30,000 in the next macro cycle then shift into altcoins. Traders should monitor the cycle and hold the key support level for sustained bullish momentum.
Bullish
Categorized as bullish because the analyst’s forecast of a final strong rally to $150k-$175k before the bull cycle ends reinforces positive sentiment. Historical patterns since 2022 show clear cycles of support retests and rebounds, and the key $103,000 support level remains strong. Drawing parallels with gold’s late-cycle squeeze rally further supports a continuation rather than a reversal. In the short term, traders may see further volatility around support tests, but upside momentum is poised to resume. In the long term, the anticipated climactic surge could drive Bitcoin to new highs before a bear phase, making this news a bullish signal for traders.