Lao Lin believes that in the next 2 to 4 months, the price of Bitcoin may experience a large fluctuation, and is expected to exceed 69,000, or even exceed the historical high in November 2022. However, some important candlestick patterns have emerged in recent days, which suggest that Bitcoin price may be changing. In this volatile market environment, I think we need to keep a close eye on price action.
I predict that Bitcoin may face a short-term price correction, possibly falling to around 48,000 to 50,000. These price levels are very important to me because they coincide with Fibonacci retracement levels and are key support areas in technical analysis.
Despite the short-term concerns, I remain optimistic about Bitcoin’s long-term prospects. A variety of positive market factors, including solid CPI data, a possible decline in the effective federal funds rate, and expectations for an Ethereum exchange-traded fund (ETF) in the coming months, will support a long-term upward trend in Bitcoin prices.
In this volatile market, we need to remain vigilant and adjust our investment strategies in a timely manner based on market dynamics.
