This Analyst Correctly Predicted The Bitcoin Price Crash To $99,000, Here’s What’s Supposed To Happen Next
An accurate cryptocurrency analyst Predicting Bitcoin Price Plunge $99,000 Now comes another noteworthy prediction for the pioneer cryptocurrency. While the analyst’s previous bearish predictions were driven by volatility and waning demand for Bitcoin, his new prediction sees the cryptocurrency surging to new highs above $110,000, driven by recent bullish performance.
Bitcoin will retest key support as next move
From a technical perspective, TradingView cryptocurrency analyst R.Linda believes pinpointed The range between $102,500 and $100,000 is a key support area for Bitcoin. The analyst highlighted that if Bitcoin can retest and sustain the price above this area, it could set the stage for Bitcoin’s future. potential market rebound Mid-term new ATH is $120,000.
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Bitcoin is currently trading at $108,594, up a massive 4.65% in the past 24 hours, according to CoinMarketCap. R. Linda said the recent price increases may be due to strong Accumulated and growing investor confidence.
Given Bitcoin’s momentum, TradingView market experts set new resistance level They are $103,600, $105,700 and $107,500 respectively. She believes that successfully breaching these levels could drive Bitcoin retests new bullish targets Between $108,000 and $112,000.
Despite correctly predicting Bitcoin’s recent plunge to $99,000, analysts believe that another failure to hold the $100,000 mark could halt price gains for the time being and risk a more severe plunge. R. Linda Says Bitcoin May Form Calibration modea slight pullback to the 0.5 Fibonacci retracement level near $100,000 or even as low as $97,500 is possible.
Looking ahead, as long as Bitcoin’s price quickly recovers from the expected drop and remains above key support levels, its overall trend remains bullish. The $102,500 level is highlighted as a key price point expected to trigger Bitcoin’s bullish continuation.
Bitcoin’s current market conditions
R. Linda said that Bitcoin surprised the market again: An increase of more than 18% This past week, after breaking out of the previous support area. When selling pressure surged, the flagship cryptocurrency quickly reignited its previous bullish sentiment after retesting “panic and risk territory.”
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The sharp price increase is attributed to technical, fundamental and macroeconomic factors. R. Linda said there has been an increase in activity from institutional investors and major players in the sector. she suggested Donald Trump’s inauguration As President of the United States and related speculation Favorable Cryptocurrency Policy Under his stewardship, he also contributed significantly to Bitcoin’s recent rally.
This bullish combination solidifies Bitcoin’s position, creates strong momentum, attracts new buyers, and increases institutional interest from global players. R. Linda emphasized that Bitcoin Price Trend The past three days have shown a strong consolidation and accumulation phase, with buyers aggressively defending the price area between $91,000 and $89,000.
Featured images from Unsplash, charts from Tradingview.com
