Bitcoin Price Controversy: Is BTC Heading Lower or On the Verge of a Surge?
Bitcoin sentiment has shifted slightly towards the positive after a recent dip, with the cryptocurrency testing the $60,000 mark. Despite this, technical analyst Alan Santana has voiced a bearish outlook, suggesting that Bitcoin’s price chart indicates a downward trend.
Santana, known for his technical analysis on TradingView, reiterated his short position in a September 14 update, emphasizing his belief that the market will decline based on current chart patterns.
Santana’s analysis highlights a history of market misjudgment, where widespread optimism did not align with technical indicators. He has opened short positions at $56,000, $58,000, and $60,000, setting a stop-loss at $66,000 and targeting a drop to as low as $39,000 for maximum profit.
While Santana maintains a bearish stance, other analysts present a more optimistic view for Bitcoin’s long-term prospects. For instance, Credible Crypto has noted a bullish trend and is preparing for a significant upward movement. Similarly, AI predictions suggest Bitcoin could reach $90,000 by the end of 2024, a forecast also supported by Cryptorphic, which anticipates a price of $93,000.
The market remains volatile with contrasting opinions, reflecting its unpredictable nature. As Santana cautions, leveraged trading carries risks and requires careful strategy, underscoring the necessity for stop-loss measures in uncertain conditions.
Bitcoin Poised for New Highs? Analyst Says $101K Is the Key
A well-known crypto analyst believes Bitcoin could reach record highs—if it clears a critical resistance level. DonAlt suggests that BTC needs to break past $101,000 to trigger a significant rally. According to him, this is the final barrier before Bitcoin can push into uncharted territory. “The setup looks solid. That’s why I’ve been saying to […]
Bitcoin Could Crash 40% if This Support Level Fails to Hold
A well-known crypto analyst, known for his accurate predictions, is now highlighting a potential downside for the asset amid the recent correction. The crypto expert, known as Rekt Capital, explained that while Bitcoin is currently in an upward trend, historical patterns suggest that a further decline is possible. Rekt Capital pointed out that Bitcoin often […]
Bitcoin Eyes $150K as Analysts Highlight Bullish Patterns and Key Support Levels
Bitcoin remains in a consolidation phase above $100,000, showing no significant movements in the past 24 hours. Key indicators, including its position above the 50-day and 200-day SMAs, suggest continued bullish momentum, supported by an “Extreme Greed” market sentiment score of 83. The “3 Expansion Phases” pattern, highlighted by TradingShot, indicates Bitcoin could reach $150,000 […]
Critical Bitcoin Price Points That Could Trigger Major Market Moves
Crypto analysis firm MarktQuant has identified key price levels that will play a crucial role in Bitcoin’s next moves, drawing attention to both resistance and support zones that investors should watch closely. 🟠 $BTC Key Levels to Watch For the bulls to regain control, the price must soon surpass the critical resistance at 98.4k. Failure […]
-
1
Bitcoin is Heading Towards $90,000 According to This Technical Model
24.05.2024 18:00 2 min. read -
2
Bitcoin Faces Risk of Major Decline After Months Without New Highs
14.10.2024 9:00 2 min. read -
3
Bitcoin: Is a Strong Q4 Ahead or Are Short Positions Looming?
07.10.2024 17:15 2 min. read -
4
Here’s When Bitcoin Could Leave the “Boring Zone” and Head for New Highs
28.08.2024 21:00 2 min. read -
5
Bitcoin Price Controversy: Is BTC Heading Lower or On the Verge of a Surge?
15.09.2024 8:30 1 min. read
