Analyst Who Correctly Predicted the October Peak R
Analyst Who Correctly Predicted the October Peak Releases Latest Predictions for Bitcoin (BTC): He Revealed His Price Prediction for the Bottom!
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Amid expectations of a more hawkish Fed after the last meeting and growing concerns about Strategy’s $BTC sale, Bitcoin is currently stuck in a narrow range.
While these factors negatively impact $BTC’s rise, there is also the risk of a bearish flag formation.
According to one analyst, $BTC is forming a bearish flag pattern and could fall to $54,000.
According to CoinDesk, crypto analyst Dr. Profit, using a pseudonym, argues that Bitcoin is forming a bearish flag pattern on its daily chart.
According to the analyst, the bearish flag formation in $BTC could initially lead to a drop to the $54,000-$56,000 range. The analyst believes that the decline initiated by the bearish flag could continue down to $40,000, and the price could ultimately bottom out between $40,000 and $50,000.
The analyst notes that the forecast is based on the drop from the May peak of $82,000 to below $60,000 in June, and then the subsequent rebound to $68,000.
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