Bitcoin's price movement is notoriously unpredictable, but I'll provide some insights based on technical analysis and expert opinions.
Current Trend:
Bitcoin has broken through the $48000 resistance level, and the trend looks bullish.
Possible Scenarios:
1. Direct Run to $85,000:
Some experts believe Bitcoin might continue its upward momentum, potentially reaching $85,000 without a significant retest.
2. Retest Before $85,000:
Others predict a retest of the $40,000-$50,000 range before making another attempt at $85,000.
Technical Analysis:
- Support Levels: $40,000, $50,000, and $60,000
- Resistance Levels: $70,000, $75,000, and $85,000
- Indicators: RSI (70), MACD (bullish crossover), and Bollinger Bands (expansion)
Expert Opinions:
- Bloomberg Analyst: $85,000 by year-end
- Fundstrat's Tom Lee: $100,000 by 2025
- CryptoSlate's Analyst: $80,000-$90,000 range
Conclusion:
While some predict a direct run to $85,000, others anticipate a retest before reaching that level.
$BTC volatility ensures that price movements are never guaranteed.
Recommendation:
Stay informed, set realistic goals, and maintain a diversified portfolio.
Sources:
- CoinMarketCap
- CryptoSlate
- Bloomberg
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