Bitcoin (BTC) has reclaimed the $64,000 price and is fueled by bullish sentiment.
Positive market news has many analysts reanalyzing the BTC price chart.
Many believe that the new bull cycle top target will exceed $220,000
Bitcoin (BTC) is back up over the $64,000 price mark and this paired with many new factors such as the $140 billion liquidity injection from China, is fueling bullish green sentiment for the crypto market and analysts are readjusting their price predictions accordingly. So far, the greatest cycle top prediction was for BTC to hit $220,000.
Analysts Reanalyze Bitcoin Top Predictions
Now, given new moves in the crypto market, the sentiment for a higher high has gained momentum and analysts are stepping up to share their observations. Previously, the minimum high for the price of BTC this bull cycle was in the $80,000 range. Now, one analyst says $127,000 could be the minimum target for Bitcoin.
According to this analyst, the Bitcoin chart is forming a head and shoulders pattern on the inverted chart. For his prediction to play out, Bitcoin (BTC) price must first break $75,000 and from there it will soar to hit higher highs.
https://twitter.com/thescalpingpro/status/1838616889414816019 BTC Price CouldSoar Over $220,000 This Bull Cycle
Meanwhile, another analyst chimes in with another bullish chart pattern on the BTC price chart. According to this analyst, BTC is forming a massive bull flag which is a bullish continuation pattern. He expects this movement to take the price of Bitcoin to a higher breakout target of $200,000.
https://twitter.com/DrProfitCrypto/status/1838683007282213372
Finally, the silver-tongued analyst, Doctor Profit, enters the conversation. As we can see from the post above, he mentions how he expected a bull market top price for BTC between $170,000 and $220,000. Now, given new events and positive market changes, he hints at sharing a much higher target in his updated prediction very soon.
The post $220,000 BTC Is No Longer the Cycle Top Expectation, Positive Market Changes Hints at a Much Higher Bitcoin Price appeared first on Crypto News Land.
