Crypto analyst Trader Tardigrade has identified a bullish pattern on the Bitcoin chart, indicating a potential rally to $113,000. The analyst believes that the Bitcoin price is consolidating within a bullish pennant and will soon experience a breakout. Additionally, Tardigrade predicts that the Bitcoin price could rise as high as $462,000 based on historical trends.

However, analyst Ali Martinez warns of a potential steep correction for Bitcoin. Martinez notes that investors are feeling extremely greedy, and there has been a spike in Google search interest for Bitcoin. Technical indicators such as the TD Sequential and the Relative Strength Index (RSI) also suggest that Bitcoin is overbought. If a correction occurs, key support levels to monitor are between $83,250 and $85,800 and between $72,880 and $75,520. A daily close above $91,900 would invalidate the bearish outlook and potentially trigger a breakout to $100,680.



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