Bitcoin’s Bullish Outlook Despite Current Correction
- Bitcoin peaked above $111,000 in May and is now trading below $105,000.
- Analyst MasterAnanda predicts a potential rebound to $137,000 but dismisses a $200,000 target for this cycle.
- The ideal retracement level is identified at $88,888.88, aligning with the 0.618 Fibonacci level.
- RLinda highlights $102,000 and $101,400 as crucial support levels to maintain bullish momentum.
- If Bitcoin falls below $100,000, it could indicate a significant trend shift.
Currently trading at $104,290, Bitcoin’s recent correction is viewed by analysts as part of a broader bullish structure rather than a full collapse. Both MasterAnanda and RLinda emphasize critical support levels that could influence future price movements.
Source (2.6)https://www.newsbtc.com/news/bitcoin/bitcoin-still-bullish-but-200000-off-the-table-and-137000-in-sight/?rand=52377
