Bitcoin Upper Band Moves Above $105,400
cryptocurrency analyst Tony Severino Provides some insight into current Bitcoin price action. He revealed that Bitcoin’s edge has exceeded $105,400 and hinted at where the flagship cryptocurrency might go next.
What’s next for Bitcoin price as the cap moves above $105,400?
in a X postsSeverino revealed that Bitcoin’s upper limit is currently above $105,400. Regarding this development, he referred to a previous analysis in which he revealed what would happen once the price breaks through $105,400. In the analysis, the cryptocurrency analyst mentioned that once things get interesting BTC breaks above $105,400.
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Then he predicted Bitcoin may rebound Up to $170,000. The analyst made this prediction while also revealing how BTC surged 90% from lower band wick lows to local highs. This happened last time when the flagship cryptocurrency experienced a lower band artifact before moving to the upper band.
Based on this trend, Severino believes that Bitcoin prices may surge by 90% again, reaching as high as $170,000. This price target is significant as it could mark a high for the flagship cryptocurrency. Cryptocurrency analysts mentioned bike tops Bitcoin can be discussed once BTC reaches the $170,000 target.
However, market experts such as Standard Chartered Bank say that Bitcoin could rise above the $170,000 target. The financial institution predicts that Rebound to $200,000 It is achievable by the end of the year. Bernstein analysts also said that a rise to $200,000 before the end of the year is conservative, meaning Bitcoin could rise even higher.
Bitcoin’s bullish outlook stems largely from the fact that Donald Trump will be inaugurated on January 20th. The pro-cryptocurrency US president-elect is expected to implement a Bitcoin strategic reserve for the country, which will boost the adoption of the flagship cryptocurrency.
BTC is not far from all-time highs
cryptocurrency analyst French capital Suggesting that Bitcoin will reach new all-time highs (ATH) soon. In an X post, he stated that BTC is just one daily resistance level away from breaking out to a new ATH again. The cryptocurrency analyst added that a daily close above the final resistance level followed by a post-breakout retest would be enough for the flagship cryptocurrency to enter the price discovery phase.
Prior to this, Rekt Capital mentioned that Bitcoin will continue to fluctuate between $101,000 and $106,000. cryptocurrency analyst crypto titan The outlook for Bitcoin is more optimistic, indicating that the flagship cryptocurrency has begun to rise. He said that as expected, the cryptocurrency has broken through resistance levels and is now poised for a strong rebound.
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According to the data, Bitcoin is trading at around $103,509 at the time of writing, rising in the past 24 hours data From CoinMarketCap.
Featured images from Pexels, charts from TradingView
