Cryptocurrency analyst Jordan made this prediction. bitcoin price In the short term, it could rise to $80,000. The analyst noted that the bullish trend in February could trigger a rally in major cryptocurrencies.
Based on this trend, Bitcoin price is expected to rise to $80,000
in ×postCiting the bullish trend that began in February, Jordan predicted that the price of Bitcoin could rise to $80,000. This was around the time BTC formed a new currency. locally low $60,000. Since then, the leading cryptocurrency has recovered to $76,000. The analyst noted that each time Bitcoin price tested support in the low $60,000 range, it rallied.
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Jordan said if Bitcoin prices can maintain this level, it could gain momentum towards CME Gap’s $80,000 to $84,000 range. He added that it is interesting that prices are still above key support levels. war between usa and iran. Crypto analyst Dr. Proffitt also suggested that BTC could rise above $80,000 in the short term.
in ×postHe said that if Bitcoin price returns to that zone again, he would consider entering a new short between $79,000 and $84,000. He further stated that he sees a moderate chance of BTC reaching this zone. However, he added that given the geopolitical situation surrounding the Iran war, it is not worth going long risk-reward in hopes of BTC rising above $80,000.
Dr. Proffitt also reiterated that Bitcoin prices are trending downward. bear market And prices have not yet bottomed out. Therefore, he believes it is safer to place a short sell order between $79,000 and $84,000 if the target is less than $50,000.
It’s not the time to buy BTC yet
crypto analyst CrypFlow description Bitcoin prices have not bottomed out yet, so now is not the time to buy BTC. He said that for two months Stochastic RSI A bullish cross is one of the signals that consistently represents the best buying opportunity each cycle. The analyst explained that in this pattern, momentum resets below 20, sentiment turns negative, and a bullish cross later confirms the change.
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CrypFlow further stated that the cross marks the beginning. bull running In the 2015, 2019 and 2023 cycles. However, this time the cross has not yet occurred. He noted that although the stochastic RSI has reset again and the setup is building, the signal has not yet triggered, suggesting that Bitcoin price could still fall.
As of this writing, the price of Bitcoin has risen over the past 24 hours and is trading at around $66,800. data From CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
