Analyze BTC



BTC may be on the verge of significant market volatility; if it cannot reach a new all-time high, the fluctuations in the coming weeks could trigger a substantial correction. Although the long-term bullish sentiment remains strong, the short-term outlook depends on whether Bitcoin can maintain its upward momentum and avoid destructive setbacks, which could hinder or further impede its current rally.

If the price of Bitcoin cannot quickly break through its historical high, it may trigger a price crash—potentially erasing more than 50% of BTC's current value.

Bitcoin has reignited optimism among people over the past week, as its latest price soared above $123,000. Although the price of Bitcoin has retreated to just above $118,000 at present, forecasts suggest that Bitcoin is poised to set a new all-time high.

The next ATH target for Bitcoin is $129,948, aligning with the 1.618 Fibonacci extension level. Given that the current trading price of BTC is $118,612, this implies a steady price increase of 9.6%. It's worth noting that Bitcoin's previous consolidation zone was around $110,000 and $100,000, which corresponds with the Fibonacci retracement levels of 1 and 0.786. If the price retests, these levels will now act as potential support areas.

#BTC
BTC1.17%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)