- Gert Van Lagen predicts that Bitcoin will be worth $200K to $300K after the accumulation phase.
- Whale accumulation supports Bitcoin’s bullish trend, signaling strong market confidence.
- Bitcoin’s key level at $87.6K will confirm a bullish move if breached in the next 24 hours.
According to market analyst Gert Van Lagen’s analysis, Bitcoin (BTC) is on the verge of a major price movement. The study shows that BTC is currently consolidating above a seven-month re-accumulation phase (blue ‘X’ in the chart).
Based on the analyst, Bitcoin is on the brink of entering its next leg of the market cycle and will likely start moving to a distribution area between $200,000 and $300,000. Van Lagen’s forecast follows a specific structural pattern called ACC-REACC-DIST (Accumulation, Reaccumulation, and Distribution).
This setup’s notable precision has reinforced the credibility of his projections. Looking at the chart, Bitcoin appears to have had a fast price move after the accumulation phase and placed itself for a trend continuation after the re-accumulation phase.
However, van Lagen also has a vital invalidation point for his prediction. If Bitcoin closes below the 40-week LSMA (long-term Simple Moving Average), currently around $73,900, the price range can be in danger.
Whale Accumulation Trend Points to Bullish Bias
Based on the latest Glassnode analysis, BTC whales have started to accumulate Bitcoin, which is a positive sign of upward movement. According to the report, whales with more than 10,000 BTC have almost pushed their Accumulation Trend Score past the 0.5 mark, showing normal coin accumulation.
This development implies that large entities are very serious about going from distribution to accumulation, as only the biggest holders show decisive accumulation at the time. Smaller cohorts, on the other hand, have positive values, i.e., they are still net sellers.
Additionally, the 30-day position change for whales reveals that they have accumulated 129,000 BTC since March 11. This cash accumulation has been climbing sharply in recent days, with the largest accumulation rate in weeks since the end of August last year. Such accumulation by the large players over an extended period is a good sign.
It shows the greater confidence of most major holders, who could buffer further bullish momentum. Also, the average Bitcoin supply per whale has risen steadily since early March, indicating that whales are accumulating Bitcoin. While this supply remains less than observed in December, the levels are still far from reaching their fullest potential if this trend continues.
BTC Price Prediction: Bitcoin Bulls to Test $88K
Accordingly, the latest analysis of Bitcoin price action constructs a chart bullish for the cryptocurrency, at least in the near term. The key 0.618 Fibonacci retracement level spotted at $87,655.56 is important to watch out for here.
A full candle close above this level would confirm this bullish scenario and highlight that Bitcoin will be ready to aim at the next liquidity zone at $88,275.00, with a possibility of shooting to the point of interest (POI) at $88,765.43.
The next 24 hours should yield this breakout as the upward Bitcoin price momentum remains steady, and big pockets of holders have been accumulating in favor of this breakout. If Bitcoin can get above the 0.618 fib level, then the bullish continuation would be to go for the buy-side liquidity, strengthening the bullish case further.
Nevertheless, it is worth mentioning that there is an invalidation level to consider. Should Bitcoin exchange below the buy zone (around $86,400), then sell-side liquidity becomes in play and invalidates the bullish setup, bringing into question the market’s direction.
