Robert Kiyosaki expects Bitcoin to drop to $60K, urging accumulation before a potential surge to $250K by 2025.
Bitcoin tests the $96,940 Fibonacci resistance; failure could lead to retesting $92,694 support amid market indecision.
MACD shows bullish momentum, but tapering volumes near $97K suggest mixed signals for Bitcoin's short-term direction.
Robert Kiyosaki, a renowned financial author known for Rich Dad Poor Dad, has shared a bold prediction for Bitcoin's price movement. Kiyosaki anticipates Bitcoin could plunge to $60,000, describing such a drop as a potential buying opportunity.
He emphasized accumulation over short-term price movements, foreseeing Bitcoin potentially stabilizing at $250,000 by 2025. Meanwhile, Bitcoin’s current price action presents mixed signals, trading at $97,216.62 after modest gains of 0.46% in the past hour.
https://twitter.com/theRealKiyosaki/status/1863161721700982854
Fibonacci Levels Highlight Critical Price Zones
Bitcoin's recent movement between $90,872.77 and $98,592.16 reflects key zones shaped by Fibonacci retracement levels. The 0.236 level, at $92,694.27, acted as robust support during previous downtrends, while the 0.618 level, at $95,643.17, offered consolidation. Currently, Bitcoin tests the 0.786 level, positioned at $96,940.11, as a crucial resistance point. Failure to surpass this resistance could lead to further retracements.
Source: CryptoRank
Notably, these levels align with trends observed during a sharp sell-off that marked a low of $90,872.77. A subsequent bullish recovery brought the price to $98,592.16, signaling potential upside momentum if key resistances are breached.
Momentum Indicators Show a Bullish Shift
The MACD indicator highlights a bullish crossover, with the MACD line at 94.71 crossing above the signal line at 82.64. The histogram remains positive at 12.07, suggesting sustained bullish momentum.
However, volumes near $97,000 have shown signs of tapering. The price remains supported at $95,643, boosted by prior consolidation at the 0.618 Fibonacci level. Resistance, however, looms at $96,940 and the recent high of $98,592.
Volume Patterns Signal Market Indecision
Analyzing volume trends reveals critical dynamics in Bitcoin’s price movement. A surge in buying interest emerged as Bitcoin rebounded from the $92,694 support level, signaling heightened activity. However, as Bitcoin consolidates near $97,000, trading volumes have declined, indicating potential indecision among market participants.
Bitcoin’s ability to overcome resistance at $96,940 and maintain momentum will likely dictate its short-term direction. Yet, failure to hold key support at $95,643 could result in a retest of lower levels, including the critical support at $92,694.
