If historical price movements are anything to go by, then this week could be pivotal for Bitcoin ( BTC ), as it could trigger a parabolic rally amid the current consolidation below the $95,000 level, as per an outlook by a trading expert. TradingShot , a prominent online cryptocurrency analyst, notes that Bitcoin’s current cycle is replicating the 2014–2017 market structure, which opens the door toward the $200,000 target, according to an analysis shared in a TradingView post on January 13. Bitcoin price analysis chart. Source: TradingView/TradingShot The analysis identified two distinct accumulation phases above the one-week moving average that have occurred, signaling key long-term buying opportunities. A similar pattern preceded Bitcoin’s explosive rally in 2017 that saw BTC hit a record high of $20,000. Additionally, the one-week Relative Strength Index ( RSI ), a momentum indicator, is showing a pullback similar to price movement observed in January 2017. Historically, such corrections have marked the transition from accumulation to rapid price acceleration. The expert also stated that if Bitcoin continues to follow the 2017 pattern, the cycle top could align with the 7.0 Fibonacci extension from the cycle bottom. This projection suggests a price target of at least $200,000 by the peak of the current bull run in late 2025. Therefore, this week is significant in the analysis, as Bitcoin appears to be in the final stages of a pre-parabolic pullback. It could establish a new local bottom around the $90,000 level, offering a foundation for massive price growth. Already, a section of market players share the $200,000 target. For instance, as reported by Finbold, Geoff Kendrick, an analyst at banking giant Standard Chartered believes that Bitcoin is destined for the $200,000 target in 2025, possibly stemming from institutional interest inspired by optimism around the election of Donald Trump , who is viewed as friendly to the cryptocurrency space. Bitcoin’s price short-term play Indeed, for the short term, Bitcoin’s potential to mount a parabolic rally hinges on how the asset interacts with key price levels. Specifically, breaching the $95,000 resistance is central to targeting further gains, while a plunge below the $90,000 level could open the door for further losses. To this end, an analysis shared by a cryptocurrency analyst Ahmed in an X post on January 13 indicated that the leading digital asset had been rejected at the $95,500 mark, as anticipated. If historical price movements are anything to go by, then this week could be pivotal for Bitcoin He noted that the price action follows a well-established pattern, with a range formed on the 12-hour (H12) candlestick chart on January 8. This range was initially tested for liquidity below due to the Non-Farm Payroll (NFP) report before seeking liquidity above the $95,500 level. The market has since formed a new range focusing on seeking liquidity below first as attention shifts toward the January 14 Consumer Price Index (CPI) data. At the same time, the possibility of a Bitcoin price correction was highlighted by trading expert Peter Brandt, who expects that BTC will potentially drop below $90,000 before pumping to $150,000. Bitcoin price analysis By press time, Bitcoin was trading at $91,170, plunging almost 3% in the last 24 hours. On the weekly timeframe, BTC is down over 8%. Bitcoin seven-day price chart. Source: Finbold Bitcoin bears appear to be in full control after bulls were overpowered at $95,000. Therefore, the current drop may be ideal, as it will allow the cryptocurrency to confirm a bottom before attempting to break through crucial resistance levels. Featured image via Shutterstock The post Why this week is set to trigger Bitcoin’s parabolic run appeared first on Finbold .
