$BTC Price Forecast: Now or Never

If the crypto market outlook has changed and the historical Q4 performance has kicked in, then a Bitcoin price bounce should happen around $59.4K, which is the yearly VWAP and also critical support. This move would keep the uptrend intact and provide BTC bulls with a foothold to decisively overcome the $64K to $65K hurdle. However, a failure from bulls here could send BTC down the $57.2K to $57.9K support levels, which is the last chance to keep the bull trend dream alive.

Regardless, investors must expect one or two scenarios to play out:

BTC price bounces from $59.4K but fails to overcome the $63K hurdle, leading to a correction to the 50-week Exponential Moving Average (EMA) at $55K or lower.

Bitcoin price bounces from $59.4K and overcomes the $65k resistance level, restarting the bull run. Such a development could even see the pioneer crypto revisit the all-time high (ATH) at $73,777

The 30-day MVRV indicator hovers around 0 after dropping from nearly 8% a week ago. This suggests that investors have realized profits. However, it is unlikely that Bitcoin price correction will stop here, considering that the MVRV buy zone is between -8% to -10%.

All in all, Bitcoin price prediction is that the correction is done for now and investors should watch for the aforementioned scenarios to play out

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