Bitcoin While it is slowly recovering after the correction it experienced in recent days, the risk of decline still continues. At this point, some analysts think that the decline could go as low as $50,000.
However, some analysts also predict that the price recovery will continue and a jump may occur. One of these analysts is one of the frequently used technical indicators John Bollinger, creator of Bollinger Bands happened.
Thinking positively about the Bitcoin price, John Bollinger drew attention to the formation of a two-bar reversal pattern in the lower Bollinger Band.
of this model Arguing that it formed in a logical place on the Bitcoin chart, the analyst said that there was a possibility that BTC could experience a potential jump.
The analyst said that the emerging pattern and potential bounce could result in BTC testing its ATH of $73,000.
If Bollinger’s prediction comes true and BTC turns into an upward trend again, the Bitcoin price may reach the upper Bollinger Band at $ 72,000 as a result of a potential jump.
Critical Level for Bitcoin is $56,500!
Apart from John Bollinger, Material Indicators co-founder Keith Alan also Bitcoin announced his predictions.
BTC Keith Alan stated that technical indicators on the daily chart indicate an upward trend. weekly, Because monthly and quarterly closings occur on a single day He predicted that the pressure on the Bitcoin and cryptocurrency markets will increase by the end of the week.
Stating that Bitcoin has already recovered well after testing below $ 59,000, the analyst said that there is still a possibility that BTC will retest the lowest levels until Sunday, when the triple closing will occur.
However, the analyst Stating that we will face the risk of losing the general upward trend if Bitcoin ends June below $ 56,500, the analyst stated that the trend will not change unless BTC falls below this level.
“There is always a chance that Bitcoin price will retest the lows before Sunday, but as long as the monthly candle closes inside or above the red box (above $56,500), the trend continues.”
Bitcoin continues to trade at $61,222 at the time of writing.
*This is not investment advice.
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