CandleFocus

Bitcoin Price Prediction: Bullish Scenario Points to Breakout Above $130k

Author: Content Editor
Bitcoin is currently trading just below $104,000 and is showing strong upward momentum. Analysts predict that Bitcoin could reach targets above $110,000, with some even speculating that it could reach $170,000 or $190,000. However, as the price approaches the $130,000 target, risks increase and the likelihood of reaching higher prices depends on the expected wave pattern. An analyst compared the current situation to Bitcoin's price action four years ago when it experienced significant upward movement after a breakout. The next price target for Bitcoin is estimated to be around $113,000. The weekly MACD indicator is still showing bullish trends, although there is a slight decrease in bullish momentum in the short term. Several support levels have been identified, particularly in the $97,000-$98,000 range, which could provide a cushion in case of pullbacks.

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