Analyst: BTC is expected to rise to $130000 in August, but there may be a risk of a pullback

Odaily Planet Daily News: Analyst Peter Brandt previously predicted that the price of Bitcoin would rise to $125000 to $150000 in August or September, and pointed out that it would show a multi-year parabolic upward trend. As of July, his prediction has been accurately fulfilled. Analysis indicates that Bitcoin has entered a breakthrough phase that appears to be in the shape of a bull market flag, as evidenced by the parallel trend lines formed after a strong upward trend (flagpole). At present, BTC is expected to rise to $130000 in August, which is the flag shaped upward target measured by adding the flagpole height to the breakthrough point. However, Peter Brandt reminds that after Bitcoin reaches the $125000 to $150000 range, there may be a 50% pullback. However, some analysts believe that the upward trend will continue after breaking through the target of $150000. （Cointelegraph）