Important points
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Bitcoin’s all-time highest prices are of little importance to those who believe a BTC correction is long overdue.
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Traders say that both the recent surge as well as the bull market are only on loan for a limited time.
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The comparisons with previous price cycles continue to be used despite a booming institutional investing scene.
BitcoinBTC(Traders are calling for an immediate pullback following all-time and seven “green” The weekly Candle
BTC’s price growth continues to meet with doubts, as many commentators believe that the next step will be lower prices.
BTC Price Forecast for Q4 “cycle peak”
Bitcoin hit its highest-ever levels Data from this week Cointelegraph Markets Pro You can also find out more about the following: TradingView confirmed — but despite being up by a third in Q2 already, BTC/USD remains unconvincing for many.
The long-term trend suggests not only that prices will return to lower levels to consolidate their gains but also that the bull market as a whole is close to completion.
The latest forecasts call for the a “sanity check” Stockmoney Lizards is a trading resource.
The newest addition to the latest posts on XIt has brought a roadmap for a bullish market from the end of 2023.
Our personal plan for this cycle. This is the most important takeaway message.
1. The bullish trend will continue due to mass adoption of ETFs and large institutions.
2. Expect volatility in Q1 2020 and possible corrections to mid-30ks.
3. New ATH in… pic.twitter.com/t9xJYCsUSU
— Stockmoney Lizards (@StockmoneyL) December 31, 2023
“In December 2023 we posted this BTC roadmap (lower picture). I overlayed the actual chart with the same TF. Price is a bit lower, however, timelines are fairly accurate,” I said.
Bitcoin is shown in the chart. “cycle peak” In Q4 of this year we will see a bear market that takes BTC/USD up to its 2021 peak of $69,000.
Other people cited the historical BTC pricing to make a case for an imminent correction.
Trader Crypto Chase noticed that the current price of Bitcoin is much higher than typical bull markets exponential moving averagings (EMAs).
“Every time price deviates FAR outside the EMAs (circled areas), we always see a pullback,” Moreover, he is a spokesman for the broader group. told X Followers
“Even if that pullback if brief before more upside, it’s a pullback.”
Post acknowledged that institutional buyers have increased their buying power in this cycle. That could lead to a price movement that favors bulls.
Bitcoin “looks exhausted”
Cointelegraph reports that a number of market participants are expecting an important decline this month.
Related: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this week
Includes support for everywhere from $105,000 to $90,000Proponents see little left of the fuel in bull markets.
“This doesn’t mean downside is coming immediately, it just means the bull run is likely coming to an end and I’d rather not take the risk and hold spot here. See 2021 vs now,” Roman, a fellow trader, has written an X Update on the subject.
Roman described Bitcoin as “looking exhausted” Based on the relative strength index (RSI). bearish divergences.
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Source: cointelegraph.com
