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 Breakout as Historic Pattern Points to $150K Target
Bitcoin may be gearing up for a powerful move that could push its price into six figures, potentially soaring beyond $150,000—if a long-standing market pattern continues to unfold as expected. A technical setup observed by the analyst TradingShot suggests that Bitcoin is once again mirroring a signal that has historically preceded each of its major […]
Bitcoin’s Bullish Pattern Might Be a Trap, Warns Veteran Trader
A widely recognized bullish formation in Bitcoin’s price charts might not be as promising as it appears, warns veteran trader Peter Brandt. The cryptocurrency has developed an inverse head-and-shoulders pattern, typically seen as a sign of a potential upward reversal. However, the structure presents a complication—the neckline is sloping downward. Brandt, who has spent over […]
Bitcoin Set for Six-Figure Surge, But Expect a Pullback First
A popular crypto analyst is forecasting a major rally for Bitcoin, predicting it could eventually soar to six figures, but cautions that investors should expect a possible dip before the surge. According to Inmortal, Bitcoin is likely to briefly dip to around $85,000 before making its climb toward $100,000. He emphasizes that the cryptocurrency’s trajectory […]
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 […]
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