#BTC Bitcoin Headed for $90,000? Analyst's Bold Prediction 🌟
Bitcoin is at a crossroads. After hitting lows around $56,000, it's now back in the $60,000 range, and some analysts believe the bulls could push it even higher. One popular analyst, TechDev, suggests Bitcoin might soon jump to $90,000 or even $100,000.
Elliott Waves Signal Bullish Trend 📈
TechDev uses Elliott Waves, a technical analysis tool, to predict Bitcoin's trajectory. He points out that Bitcoin has formed a series of impulse waves, suggesting that it's at the end of a correction and about to start a bullish wave.
If his analysis is correct, Bitcoin could surge in the coming months. His initial target is between $90,000 and $100,000, with a long-term aim of just under $150,000. The current move could resemble the bull market from 2020 to 2021, where Bitcoin hit record highs after a similar pattern.
What This Means for Bitcoin 🔮
Bitcoin is currently trading around $63,275, up 6% in the last 24 hours. The renewed interest might be driven by the launch of Spot Bitcoin ETFs in the United States. These ETFs saw their first inflows, which could hint at more bullish momentum.
To continue its upward trend, Bitcoin needs to break key resistance around $63,488. If it can do that, it could start a new rally
$BTC $ETH #CryptoWatchMay2024 #BitcoinETFs #BullorBear
watch for these levels and stay tuned for more updates!