Bitcoin ‘could march toward $131k’, says crypto expert

Bitcoin ( BTC ) has been hotly debated in the past weeks, as it managed to hit a new all-time high (ATH) above $123,000 and become the fifth-largest asset by market capitalization. Contributing to the discussion, crypto market analyst Ali Martinez, suggested in a July 22 post on X that the coin could be on track to surge even further. According to Martinez, Bitcoin could march toward $131,200, provided it maintains a critical support level at $117,400. Ali Martinez’s BTC chart. Source: X (@ali_charts) Bitcoin performance Bitcoin faces technical resistance in the $118,500–$123,000 range, and a break above this zone could set the stage for a rally toward a price of up to $135,000. The ‘digital gold’ currently trades at $118,050, down 0.76% in the past 24 hours but well above its 30-day simple moving average of $111,700. Still, momentum indicators advise caution. The moving average convergence divergence ( MACD ) histogram, for instance, recently turned negative (-28.56), hinting at potential near-term consolidation. BTC 24-hour price. Source: Finbold However, as per the same data, Bitcoin’s road to $135,000 may hinge on whether exchange-traded fund ( ETF ) flows and corporate adoption can overpower resistance near $123,000. If not, a pullback toward support at $115,000 is also likely. Is Ethereum $10,000 also possible? In another post , Martinez suggested Ethereum ( ETH ) could be poised for a major breakout toward $10,000 if it can decisively breach a critical resistance level around $4,000. Quote : “If Ethereum $ETH can break past $4,000, we could be looking at $10,000 next!” The analyst pointed to a long-standing Parallel Channel pattern on Ethereum’s weekly chart. Defined by two horizontal trendlines, the pattern has confined ETH’s price action in a sideways range for over two years. Historically, the upper boundary has acted as a strong resistance zone, repeatedly rejecting ETH’s attempts to move higher. Featured image via Shutterstock The post Bitcoin ‘could march toward $131k’, says crypto expert appeared first on Finbold .

Source: Finbold