Cryptocurrency analyst Stockmoney Lizards has updated his Bitcoin price prediction, suggesting the flagship cryptocurrency could surge to $145,000 this year. His analysis cites a bullish doji pattern supporting this optimistic forecast.
Key Price Targets and Timeline
In a recent X platform post, Stockmoney Lizards outlined his mid-term Bitcoin price targets:
- Primary range: $135,000–$145,000
- Projected timeline: September–October 2024
The analyst noted Bitcoin is currently trading at the upper boundary of a corrective channel, forming multiple dojis at this level—a potential reversal indicator.
Market Context and Price Behavior
- Bitcoin recently dipped to $98,000 amid Middle East tensions before rebounding post-ceasefire
- Current price action shows impulsive upward movement rather than typical range-bound trading
- Rally appears organic, not driven by derivatives markets
Critical Support Levels to Watch
Stockmoney Lizards identified several key scenarios:
- Potential retest: $90,000–$94,000 range
- Local bottom possibility: May have already formed
- Most probable scenario: Retest of upper $90,000 range
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Technical Analysis Perspectives
Fellow analyst Titan of Crypto corroborates the $135,000 target, citing:
- Bitcoin currently challenging the $107,000 Fibonacci extension
- Clear path to $135,000 upon breaking through current resistance
- Market structure supports upward movement, though momentum remains uncertain
Projected Fibonacci Targets
| Level | Price Target | Timeline |
|---|---|---|
| First Break | $107,000 | Immediate |
| Next Target | $135,000 | By September |
| Ultimate High | $150,000 | Q4 2024 |
Current Market Status
At press time (CoinMarketCap data):
- BTC Price: $108,200
- 24h Change: Positive
Frequently Asked Questions
Q: What's driving Bitcoin's potential surge?
A: Organic buying pressure (not derivatives) combined with technical patterns like dojis suggest genuine market optimism.
Q: How reliable are these price predictions?
A: While technical analysis provides educated estimates, cryptocurrency markets remain volatile—always conduct independent research.
Q: What should traders watch for?
A: Key levels include $107,000 Fibonacci extension and potential support retests around $90,000–$94,000.
Q: Could geopolitical events derail this forecast?
A: Yes, as seen with the recent $98,000 dip, external factors can create short-term volatility despite technical setups.
👉 Track Bitcoin's path to $145K
Final Thoughts
While the $135,000–$145,000 target appears plausible based on current technicals, traders should:
- Monitor critical support/resistance levels
- Watch for confirmation of breakout momentum
- Consider potential retests of lower ranges
Remember: Cryptocurrency investing involves substantial risk—only invest what you can afford to lose.