Crypto Analyst Says Bitcoin Top Signal Hasn’t Activated Yet — What to Know

Bitcoin’s price has fluctuated, recently relaxing around $104,400 after hitting an all-time high of $111,814. Analyst Joao Wedson suggests there could be four more months of upward potential, based on a reliable predictive model. While this week’s performance indicates consolidation, the Max Intersect SMA points to a later price peak before reaching $69,000.

The Bitcoin market has been notably shaky over the past week, with prices straying from the record high of $111,814 recorded recently. On Friday, June 6, Bitcoin’s value dipped to approximately $101,000, indicating an increase in market volatility. Though the cryptocurrency managed a rebound after this abrupt decline, worries remain about its performance since reaching that all-time high. Yet a fresh indicator points to potential further upward movement for BTC.

Crypto analyst Joao Wedson has recently posted on the X platform, suggesting that there is still a window of opportunity for Bitcoin investors. His insights draw from a model that has effectively forecasted previous all-time highs for Bitcoin, the leading cryptocurrency by market cap. According to Wedson, the Max Intersect SMA Model, represented by a blue line, has historically pinpointed the peak prices of Bitcoin’s cycles.

Wedson’s analysis suggests that Bitcoin could see about four months of potential growth before it hits its next price peak. Specifically, the model shows a relationship where Bitcoin typically peaks when the Max Intersect SMA aligns with its prior cycle tops. For instance, during the 2021 cycle, the model matched the 2018 high of around $19,000 before culminating in the then-record high of $69,000.

The next significant marker is when the Max Intersect SMA reaches $69,000, corresponding to the peak of the last cycle. This indication suggests that Bitcoin’s ascent might still be a few months away, as the price continues to drift below this target. Tue Max Intersect SMA is considered credible, having been validated by 200 tested algorithms, giving analysts confidence in its projections.

When looking at Bitcoin’s price action this week, the cryptocurrency appears to be in a consolidation phase, which could be testing investor sentiment. Data from CoinGecko indicates that, in the past week, Bitcoin’s value has barely shifted, showing a slight 0.2% increase. Currently, Bitcoin is priced around $104,400, which does reflect a more positive trend with a roughly 2% rise over the last 24 hours, even if it remains below the recent high.