The Bitcoin price has been experiencing significant declines in recent weeks, falling below its all-time high. However, a crypto analyst believes that Bitcoin could recover and reach a new all-time high at $107,000, but it would need to break past a crucial Fibonacci level. The analyst's chart analysis shows that Bitcoin broke a rising wedge pattern, leading to a bearish trend. Currently, Bitcoin is consolidating near the 0.382 Fibonacci level, which could act as support if the price falls again. If Bitcoin can break above the 0.618 Fibonacci level, it could indicate renewed bullish momentum and trigger a recovery to $107,000. However, another analyst predicts that Bitcoin's price could drop below $90,000 due to low liquidity during the festive season. Despite this short-term retracement, the analyst foresees Bitcoin resuming its upward momentum and reaching as high as $190,000 in Q2 next year.



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