Price indicators hinting at $230k peak

[peter0425]

CoinGlass’ (a cryptocurrency futures trading and information platform) curated “bull market peak” selection contains 30 potential selling triggers and aims to catch long-term BTC price tops. Currently, not a single one of its components is flashing a top signal.

A marketing move by the platform? Trying to attract and keep their users to stay using their platform?

“According to these models $BTC will be $135K to $230K this cycle,” popular trader Cas Abbe wrote in part of an X post on the topic on June 13.

Just me or the range is too big? $135k is totally different from $230k and the latter is a very huge ask. While $135k does not sound too impossible within this cycle.

Abbe, in particular, highlighted three indicators — Pi Cycle Top, Market Value to Realized Value (MVRV) and long-term Relative Strength Index (RSI) — to demonstrate that the Bitcoin bull market still has plenty of room to run.

“This ain’t the top,” he concluded.

Don't we know that. What do you think of the indicators and would you agree that these indicators are pointing towards a peak that could reach $230k? These indicators could only be pointing towards the fact that the bull run is not over yet but do they specifically hint to a specific price range?

[Sim_card]

I don't believe what price the indicator points at because no one can tell what will bw the highest pricw of bitcoin in this circle before bears take over. However, we can make speculations on this price and that is what keeps the market alive. My speculation is that bitcoin will go above $150k. If indicators are correct, many people will become rich through trading.

[JoyMarsha]

As far as this year is concerned, the bull run is far from being over. We are to see different price ranges of Bitcoin, we can't guess correctly what price Bitcoin will reach as a new ATH for this year.

Never have the indicators predicted correctly what price Bitcoin would be. I don't think the indicators will be a guide for the Bitcoin price. I don't see Bitcoin reaching $230k as a new ATH. I think a price below $180k will be possible

[milewilda]

We do know these facts!

Technical analysis and fundamental analysis isnt 100% sure or having that kind of guarantee even if it shows those potential price or having those projects on what are the probabilities about the price.
We do know that there's soo much factors that could be affecting out in overall movement of Bitcoin or the market itself on which there's no indicator would be able to tell on where it would be heading, plus having other factors that will be affecting out in overall price but since we are dealing up with a speculative market then it would be just that normal that we would be able to face up that different price speculations around.
Some are just that telling their intuition and those prices that comes into their mind without even trying out to mind about the tokenomics on making up some calculations on how much money is needed for us to reach up that numbers. For this cycle then anything that $150-180k might that sound realistic on which basing up on the current movement then its not that bad to reach up these peaks but above 200k might that sound be hard. Lets see if Bitcoin would be able to make up some surprises again on breaking up new all time highs. We do know that it didnt fail to impress us when it comes to this manner but its best that we should be sticking into realistic numbers so that we wont be finding ourselves being disappointed if ever it would fail on reaching out those numbers.

[BABY SHOES]

Indicators are just tools, but they can't be completely accurate tools because the guess price could be wrong from what they tell the public, but I think the price range of $135K and $150K is quite realistic compared to over $200K in the current cycle... but once again, no one knows how high bitcoin jumps are.

There are so many people saying about bitcoin predictions in the future, but the numbers are still uncertain, it's just optimistic that the current cycle may continue to increase until the end of the year... who knows, right, what is expected is $150K first?

[AprilioMP]

Can't afford the patience of choosing a long-term hold, the answer is sell. When one day the price increases 2 or even 3 times from the current time, most can only hold their heads with both hands.
Indicators are still indicators that cannot confirm concretely. Indicators are only an encouragement when someone predicts a higher price than the current price. The only thing that will make you calm, forget about the price and don't visit the market often except to buy.

$135,000 is still quite realistic to expect. If it's $230, it might take another 4 or 5 years. Clearly, prices are volatile.

[EL MOHA]

I don't believe what price the indicator points at because no one can tell what will bw the highest pricw of bitcoin in this circle before bears take over. However, we can make speculations on this price and that is what keeps the market alive. My speculation is that bitcoin will go above $150k. If indicators are correct, many people will become rich through trading.

Indicators are never accurate they are simply predicting the market base on the stats that the have with them ranging from the amount of bitcoin demand or supply stats they have, this indicators can still change their predictions if the market changes its sentiment. So indicators are simply forecasting prices and shouldn’t be taken too accurate but it’s Information can be used for more accurate analysis.

For me I think their current price of $135k to $230k isn’t far bad even though this gap is too much and I don’t see the price even touching the $200k price not to talk of it even going higher. My prediction is a price between $135k to $150k

[pooya87]

If it were possible to predict the price of anything using some indicators and technical analysis then many people could have easily became rich by using them which would have rendered them useless! It's like a paradox.

[batang_bitcoin]

What was that chart again that tried to predict BTC @ $100k? was that the S2F model and rainbow chart or only the former? Anyway, regardless of these price indicators are telling, we will go to those prices but we cannot guarantee if it's going to be this cycle. If we don't see $135k and the other high prices for this cycle, everyone is just going to move on and will wait for that to come on the next cycles to come.

[buwaytress]

Eh heh, the last time I took something innocuous as a hint was probably when I was 10, something like a girl smiling at me and me taking it as a hint to go get married.

I get that TA, backed by whatever it is Bitcoin's going through now, always has a non-zero chance of hitting some dream trajectory but for us to hit that peak in this cycle, before the bear run? Would actually be harmful in the long term, I think. Because, yeah, we're going to wind back on claims that Bitcoin is still vulnerable to manipulation (and so on and so forth).

[bangjoe]

If it were possible to predict the price of anything using some indicators and technical analysis then many people could have easily became rich by using them which would have rendered them useless! It's like a paradox.

As usual towards the end of the 4-year bitcoin cycle there will be many such marketing techniques carried out by big players.

On the other hand I only read how far the Iran Israel conflict will bring the US to intervene, and whether it will have a greater impact, because Ali Khamenei has the courage and will not hesitate to explode his missiles at the white house.
If only reading based on technical it will not be enough, we need additional data such as macroeconomics and also what is of concern today is geopolitics.

[Jewan420]

We should not take indicators too seriously. Because the Bitcoin market does not move on any information. Rather, it is influenced by what is happening at the moment. World politics also affects the Bitcoin price and participates in pumping and dumping. Even the Bitcoin market fluctuates with the combination of buyers and sellers. So it is difficult to say which direction the Bitcoin market will go in the coming days and how much it will be. For me, the reasonable maximum price this year is $ 150k or more.

[coolcoinz]

The problem is, these indicators are based on previous bull runs and those bull runs were different because Wall Street was not involved as much.

It's hard to compare indicators when volatility is obviously being curbed by these large buyers. Have you noticed that the 2018 monthly 20% corrections are now completely gone? If bitcoin moves by 10% this is seen as a huge crash, like when it went down from 112 to 100k. 5 years from now you'd see larger moves literally every single month. That's why indicators based on those years are unreliable now.

As much as I like Saylor and other bulls, I think that we won't see anything over 130k this year. Their prediction is safe though because they're saying 230 is going to be the cycle peak. The deal is there will be no more cycles! I think that if we won't get a blow-off top, meaning that we go to 120k this year, 150k next year and so on, we will eventually reach 250k and then move on.

[Jegileman]

$230K looks very big and on the unrealistic side when I’m asked to give my own cents on the speculation of this price indicators. This is not the first time we are seeing the market crash but we are still optimistic that it will recover back from where it crashed to but getting to a price above $150 and heading to $200K+ seems quite unlikely to happen. If that happen, then the trend of the percentage increase of bitcoin ag every bull run has been surpassed and we may not be able to predict the price target or price range of the next bull run if this happens. It is not a bad forecast but the probability of it happening is what we don’t see the signs of it yet.

[STT]

230k is possible but too many people are saying such things, the big number happens if and when its a surprise.   Usually that means we have to go down first, people panic then we reverse up and through remaining resistance.
   Just crawling like we are presently makes me think firstly of downwards, disappointment and doom    Theres a variety of reasons, the ever present volatility gives us plenty of space for movement but recently we've registered on daily bars a series of lower highs.  I dont generally follow that observation with thinking we go higher vs overhead ceiling or resistance, for now I think lower.

[JeffBrad12]

“According to these models $BTC will be $135K to $230K this cycle,” popular trader Cas Abbe wrote in part of an X post on the topic on June 13.

Just me or the range is too big? $135k is totally different from $230k and the latter is a very huge ask. While $135k does not sound too impossible within this cycle.

May look so but it's just 2x from ATH and money already going to institutional players, retailers are left with nothing but a breadcrumb the last time bitcoin taking dips.
200k is possible and if you still holding, then it can be a good news.

I'm sure when institutional are still buying BTC on top, they have greater target, they definitely know more than little shrimp retailers like us.

[john_egbert]

May look so but it's just 2x from ATH and money already going to institutional players, retailers are left with nothing but a breadcrumb the last time bitcoin taking dips.
200k is possible and if you still holding, then it can be a good news.

I'm sure when institutional are still buying BTC on top, they have greater target, they definitely know more than little shrimp retailers like us.

They look at the bigger targets, 2x is just the start for them, and they don't care about time that much -they need results, smart money follows potential.

[traderethereum]

Yes, the range is too big but that can happen easily when Bitcoin get the rally. This is not the top and we don't know where the top price will happen. But if the top price will be at $230k, I will be happy for the coming because I can sell some portion and take my profit.

I am sure some investors also want to sell their Bitcoin and enjoy their profit. But we must remember that no one know what will happen later.

[Marvell1]

As far as this year is concerned, the bull run is far from being over. We are to see different price ranges of Bitcoin, we can't guess correctly what price Bitcoin will reach as a new ATH for this year.

Never have the indicators predicted correctly what price Bitcoin would be. I don't think the indicators will be a guide for the Bitcoin price. I don't see Bitcoin reaching $230k as a new ATH. I think a price below $180k will be possible

I'm not being pessimistic, I mean we should be careful and always have a backup plan. If we don't believe in the indicators, don't believe in the predictions, and admit that bitcoin is unpredictable, we also need to know that the bull season can also end at any time. There is no guarantee that bitcoin must hit $150k or $180k before a correction or bear market begins. Anything can happen at any time.

Especially with the increase in geopolitical instability this year, we have to be more cautious, not subjective and think that history will always repeat itself or the market will not be affected by the instability of the world.

[el kaka22]

Do you have any track record of that platform to evaluate their expertise level? If this is the first time, you come across about their signal for bitcoin then I guess you need to wait and watch or you may go for your own technical analysis to confirm their accuracy. Usually I do just ignore all such platforms unless otherwise any reputed forum member vouch for them along with any evidence to back them up.

$230k seems like within discussed price range as people have been discussing about 400k, 600k and 1 M levels as well. But, as bitcoin market stuck in rangebound, I guess we need to update our expectations still there are plenty of time left for this bullish trend hence still 10x from previous cycle's ATH seems possible.