Crypto analysts provide contradicting views on Bitcoin’s future price actions, with predictions ranging from a potential rise above $70,000 to a downward correction to $53,000, reflecting market uncertainties and mixed sentiments.
Bitcoin has recently closed its CME gap after trading below $60,000. Crypto analyst Michael van de Poppe predicts that Bitcoin will reclaim the $60,000 support level before potentially rising further. Another analyst, Mikybull Crypto, confirmed the CME gap closure and expects Bitcoin to reach $70,000 if it breaks above $62,000, citing a bullish inverse head-and-shoulder pattern on the daily chart.
Additionally, Mikybull Crypto pointed out the Moving Average Convergence/Divergence (MACD) indicator suggests a bullish cross, indicating potential price strength. He believes Bitcoin could eventually surpass $100,000.
On a more cautious note, analyst CrediBULL Crypto suggested Bitcoin might drop to $53,000 if it fails to hold $56,000 and sees $40,000 as an unlikely but possible target.
These predictions come amid varying market sentiments, with some analysts forecasting further drops while others anticipate a significant upward movement.
