|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin (BTC) Price Forecast: Analyst Predicts BTC to Hit $149k by Year-End
May 22, 2024 at 08:00 pm
Bitcoin is on track to reach new all-time highs according to several prominent analysts. Despite the recent consolidation within the red bands
Prominent Bitcoin (CRYPTO: BTC) analysts are sharing their latest price outlooks and technical observations.
Here's a cross-section of what they're saying.
Analyst: BTC Layer 7 Price Target Still $149kBitcoin is still on track for a layer 7 price target of $149,000 by the end of this year, analyst Cryptocon said. The more conservative layer 6 has a target of $108,000 by that time.
“Consolidation within the red bands is a new development in this cycle, but it makes sense as volatility reduces. This consolidation phase could be a healthy sign for the market, allowing for a more stable and sustainable growth trajectory,” the analyst said.
Analyst Locks In More Profits, Bitcoin Heading HigherCrypto Tony, another well-known analyst, shared an update on his Bitcoin position.
“While I didn'm get the dip I was sharing for new entries for those who missed out on my original $64,400 entry, I do believe that Bitcoin is heading higher first. As a result, I have locked in some more profit on my $64,400 entry, which I had shared previously with my followers,” the analyst said.
This move to lock in profits is a common strategy among experienced traders, as it allows them to secure gains while still maintaining exposure to potential upside.
Technical Analyst: BTC May Form Right Shoulder Of Potential Bullish PatternCoinsKid, a technical analyst, observed a rejection at the resistance trendline for Bitcoin.
“However, if BTC has bottomed on the 20-week EMA (yellow line), it may come back to create the right shoulder of a potential inverse head and shoulders pattern,” the analyst said.
The right shoulder symmetry suggests a minimal target of $63,432, which is a 9% decrease from the current position, according to the analyst. The invalidation point for this pattern is losing the May 1st head at $56,500, CoinsKid said.
An inverse head and shoulders pattern is a bullish formation that often signals a trend reversal after a prolonged downtrend. If this pattern plays out as CoinsKid suggests, it could provide a strong foundation for Bitcoin’s next leg up.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Expert Tips for VeThor Token Airdrop Claims
- Jun 16, 2024 at 01:20 pm
- Crypto airdrops are a promotional initiative employed by blockchain-based projects to distribute free tokens or coins to users as part of their promot
-
- BlockDAG: The Decade’s Standout Investment
- Jun 16, 2024 at 01:08 pm
- Investors are eagerly searching for the next crypto that will offer astronomical returns, and BlockDAG might just be the transformative force they're
-
- BlockDAG’s Keynote 2 Unveils Revolutionary Innovations, Driving Over 1120% Increase; Toncoin & Celestia Prices Rise
- Jun 16, 2024 at 01:08 pm
- BlockDAG’s recent updates, showcased in Keynote 2, and the launch of the X1 Miner app have set the stage for remarkable growth, generating strong FOMO
-
- Axelar (AXL) Airdrop Alert: How to Maximize Your Rewards
- Jun 16, 2024 at 01:08 pm
- Axelar (AXL) Airdrop Alert: How to Maximize Your Rewards Follow -- Listen Share The crypto world keeps introducing innovative ways to reward active pa
-
- How to Claim JUST Airdrops - Tips and Tricks
- Jun 16, 2024 at 01:07 pm
- How to Claim JUST $JST Airdrops - Tips and Tricks Follow these steps to claim your JUST $JST Airdrops and participate in this groundbreaking cross-ch
-
- Furrever Token: The New Crypto Darling Emerges Alongside Bitcoin and Ethereum
- Jun 16, 2024 at 01:07 pm
- Bitcoin and Ethereum are undoubtedly the giants in the cryptocurrency market, boasting vast communities and technological innovations that have shaped
-
- MoonBag: The Meme Coin Revolution That's Leaving Established Coins Feeling Like Yesterday's News
- Jun 16, 2024 at 01:06 pm
- MoonBag, a meme coin, has shattered its presale target by an impressive $2 million, breaking the internet and sparking rumors of a meme coin revolutio
-
- The American securities regulator stated that Ripple & TerraForm cases are different from each other, so no reference from the TerraForm case can be used in the Ripple case.
- Jun 16, 2024 at 01:06 pm
- The United States Securities and Exchange Commission stated that the cases of Ripple and TerraForm are different, and thus, references from the TerraF
-
- Exclusive Arbitrum (ARB) Airdrops List: Get free tokens now
- Jun 16, 2024 at 01:04 pm
- Steps to Claim Free Arbitrum $ARB Airdrops Using DappRadar Begin your journey to claiming free Arbitrum $ARB airdrops by visiting DappRadar’s website