Bitcoin trader says BTC’s cycle top in $125K to $150K range if certain conditions are met

Key takeaways:

Bitcoin could reach $150,000 by August or September of this year if BTC breaks above the parabolic slope pattern.

Bitcoin (BTC) price jumped to new quarterly highs at $96,700 on May 1, a day after the US GDP contracted -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the probability of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting.

Over the past 24 hours, short position liquidations exceeded $137 million, with Alphractal founder Joao Wedson observing that BTC’s price momentum continues to favor bullish trends.

Bitcoin aggregated liquidation heatmap. Source: X.comPeter Brandt predicts a $150K Bitcoin top by Q3

In a recent post on X, veteran trader Peter Brandt forecasted a Bitcoin price rally, potentially reaching $125,000 to

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