Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Analysis: The price of Bitcoin will have to rise at least to $90,000 to $100,000 before it faces a new consolidation period or pullback

Analysis: The price of Bitcoin will have to rise at least to $90,000 to $100,000 before it faces a new consolidation period or pullback

Bitget2024/05/22 05:43
By:Bitget

PANews reported on May 22, according to Cointelegraph, a cryptocurrency trader nicknamed "Roman" stated in an interview that the current cryptocurrency market is in a "real bull market", with both fundamentals and technical aspects showing positive trends. He analyzed that although the price of Bitcoin had previously fallen from its historical high of $73,738 to $58,000, this adjustment has laid a solid foundation for future price increases. Roman specifically mentioned the "bullish reversal pattern" that appeared on this week's Bitcoin price chart, considering it as a strong signal indicating that it is unlikely for Bitcoin to enter a consolidation period before surpassing its historical high of $73,679 on March 12 and increasing by at least 20%. He asserted that the price of Bitcoin will rise to at least $90,000 to $100,000 before facing a new consolidation period or pullback.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin Price Soars Again: What’s Driving the Rise? What Do Analysts Think?

Bitcoin, the world's largest cryptocurrency, has started an upward movement again today. So what are the reasons for the rise and what are the evaluations?

Bitcoinsistemi2025/01/17 19:55