Renowned Analyst Predicts the ‘Most Critical Price Level’ for Bitcoin and the Highest Price BTC Price Will Reach This Cycle
Cryptocurrency analyst Joao Wedson, in his statement evaluating Bitcoin's current price cycle, pointed out critical levels for the market.
According to Wedson, the most interesting Bitcoin Power Law model suggests that the resistance zone lies in the $118.9k to $120k range.
Wedson argued that for Bitcoin to break above these levels, it would need to break through a threshold previously identified as the “Alpha Price,” which was previously stated to be above $119,300. According to the analyst, breaking above this level is only possible after a period of consolidation and the elimination of overly optimistic investors from the market.
“Once that happens, the doors to higher levels will be wide open,” Wedson said, noting that the potential peak level for this cycle could be in the $143,000 to $146,000 range.
At the time of writing, Bitcoin is trading at $117,598, up 8.89% in the past week. The total cryptocurrency market capitalization, including the recent surge, is hovering around $3.66 trillion.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?
This Thanksgiving, we are grateful for bitcoin returning to $90,000.

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?
The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

What are the privacy messaging apps Session and SimpleX donated by Vitalik?
Why did Vitalik take action? From content encryption to metadata privacy.

The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun
The attacker incurred a loss of 3 million in a "suicidal" attack, but may have achieved breakeven through external hedging. This appears more like a low-cost "stress test" targeting the protocol's defensive capabilities.

