Bitcoin Trading Volume Signals Potential Surge to $131,000
Bitcoin has recovered 2.73% this past week, trading around $116,000 following corrections in late July. Market activity suggests potential for a significant price increase.
Golden Ratio In Sight: Bitcoin Targets $131K After Volume Shelf Hold
Analyst Donald Dean predicts Bitcoin could reach $131,000, based on a volume shelf identified between $116,000 and $118,000. A volume shelf indicates strong trading activity at that level, serving as resistance or support.
- Consolidation above this range may signal strong buying interest.
- Achieving this target represents a potential 12.93% gain from current prices.
- The next major technical milestone is at the 1.618 Fibonacci extension level.
Bitcoin Market Overview
Currently, Bitcoin trades at $116,756, with a slight decline of 0.02% in the last 24 hours. Market volume has decreased by 20.97%, totaling $55.24 billion. The Fear & Greed Index indicates strong bullish sentiment at 67.
- Projected price in five days: $117,167.
- Projected price in thirty days: $115,980.
- Potential dip to $112,688 over the next three months.
