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Bitcoin price forecasts include $ 117,000 following


Key points:

  • Bitcoin merchants reveal the main prices of the BTC for a bullish takeover.

  • The risk of “double top” of price remains, with $ 102,000 on the radar should take charge of failure.

  • The bitcoin bull market does not have much time – if history is a guide.

Bitcoin (BTC) approached $ 113,000 after Wednesday’s Wall Street opening while buyers sought to cement a market rebound.

BTC / USD graphics of one hour. Source: Cointelegraph / TradingView

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BTC price prices are made up of $ 112,000

Data from Cointelegraph Markets Pro And Tradingview has shown local summits of $ 112,646 on Bitstamp.

Now more than $ 3,000 of several weeks Given the day before, BTC / USD continued to share opinions on where he could then go.

“$ BTC has recovered its EMA-100 level,” wrote the popular Bitbull trader in a PublishReferring to the exponential mobile average of 100 days at $ 110,850.

“It was very crucial for the background formation, and for the moment the bulls are still in control. If BTC holds this level, I would not be surprised to see a rally around 116,000 at $ 117,000.”

BTC / USD Table of a day with 100EMA. Source: Cointelegraph / TradingView

While maintaining a lowered bias, his compatriot novel, who this week Time called On the Haussier de Bitcoin market entirely, the importance of the $ 112,000 mark stressed.

“It looks like a ventilation and a lowering retest for the moment. If the 112K support is really lost, the 102K support should be the next one. It also seems that a double top confirms here”, it said X subscribers during the day.

“I expect a drop in the next few days – unless we completely look at the support of 112K.”

Source: Roman / x

Trader and popular analyst Rekt Capital, meanwhile, Reisseed similarities Between the decline in the current BTC price and the previous bull markets.

“History is not always repeated, but it often rhymes,” he said, confirming that the price had entered its second “Price discovery correction. “”

“Bitcoin ended up rallying to new heights of all time before week 6 before switching to the correction of prices.

BTC / USD Table of a week. Source: Rekt Capital / X

Does the time run out for the Haussier market?

The debate was also focused on the longevity of the Haussier market, the market participants also torn the duration of the duration.

In relation: Bitcoin can still reach $ 160,000 by Christmas with the return of the fourth “average” quarter

For Rekt Capital, history requires October to constitute the deadline for a Sloping trend change.

This contrasts hopes that the next Bitcoin bears market is still years of leave – a view put forward By David Bailey, the advisor dedicated to the bitcoin of American president Donald Trump.

“There will not be another Bitcoin bear market for several years”, Bailey supported On X on the weekend, pointing towards the institutionalization of the BTC as an asset.

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.