{"id":666711,"date":"2024-12-24T20:30:29","date_gmt":"2024-12-24T20:30:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=666711"},"modified":"2024-12-24T10:53:33","modified_gmt":"2024-12-24T10:53:33","slug":"bitcoin-price-recover-to-107000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-recover-to-107000\/","title":{"rendered":"Bitcoin Price Can Recover To $107,000 Again If This Important Level Is Broken"},"content":{"rendered":"

Over the last few weeks, the Bitcoin price has been on a <\/span>downward trend<\/span><\/a>, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this <\/span>price crash<\/span><\/a>, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000. However, for the pioneer cryptocurrency to make this recovery, it would have to break past a crucial Fibonacci level.\u00a0<\/span><\/p>\n

Why The Bitcoin Price Could Rebound To $107,000<\/h2>\n

Crypto analyst CobraVanguard<\/span> released<\/span><\/a> a chart analysis on TradingView, illustrating Bitcoin\u2019s price movement and <\/span>potential recovery<\/span><\/a> to $107,000 in the coming days. The analyst\u2019s price chart showed that Bitcoin was previously in a rising wedge, a technical pattern generally viewed as a <\/span>bearish signal<\/span><\/a> as it indicates the likelihood of a price decline during an uptrend.\u00a0\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Price Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15<\/a><\/div>\n
\"Bitcoin
Source: TradingView<\/figcaption><\/figure>\n

True to the pattern, Bitcoin broke below the <\/span>rising wedge<\/span><\/a>, turning its price significantly bearish and triggering declines. Following this wedge breakout, Bitcoin plummeted from above $100,000 to $94,000 in just a few days.\u00a0<\/span><\/p>\n

CobraVanguard has noted that the <\/span>Fibonacci retracement levels<\/span><\/a> at 0.618 and 0.382 are marked on the chart, possibly indicating potential <\/span>resistance and support zones<\/span><\/a> for Bitcoin. With the price of Bitcoin crashing after breaking the wedge, it is now consolidating close to the 0.382 Fibonacci level between $92,000 and $94,000.\u00a0<\/span><\/p>\n

Considering <\/span>Bitcoin\u2019s current bear trend<\/span><\/a>, the 0.382 Fibonacci level may act as support if its price falls again. On the other hand, CobraVanguard has predicted that if Bitcoin can break above the 0.618 Fibonacci level between $98,000 and $100,000, it could indicate renewed bullish momentum, potentially triggering a price recovery towards a <\/span>new all-time high<\/span><\/a> of $107,000, marked as the \u201ctarget\u201d zone on the chart.<\/span><\/p>\n

Based on the trajectory of the arrow in CobraVanguard\u2019s chart analysis, it appears that before Bitcoin can hit $107,000, it may <\/span>face an even steeper decline<\/span><\/a> to $90,000. The trajectory suggests a rebound towards $94,000, followed by a dip to $92,000. From there, Bitcoin is expected to climb to $100,000, experience another major pullback towards $95,000, and then surge to the analyst\u2019s projected ATH at $107,000.\u00a0<\/span><\/p>\n

Analyst Predicts More Downside For Bitcoin<\/h2>\n

Prominent crypto analyst Jelle has expressed <\/span>bearish sentiment<\/span><\/a> on the Bitcoin price outlook towards the end of the year. The analyst<\/span> compared<\/span><\/a> Bitcoin\u2019s current price movements with those of the previous cycle, highlighting similarities in fractals and bearish trends.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter?<\/a><\/div>\n
\"Bitcoin
Source: TradingView<\/figcaption><\/figure>\n

Jelle predicts that <\/span>Bitcoin\u2019s price could drop<\/span><\/a> below $90,000 this week from its current market value of $94,192. The analyst has based this projected price decline on low liquidity, highlighting that festive holidays like Christmas often trigger less liquidity for digital assets, leading to potential downside risks.<\/span><\/p>\n

Nevertheless, the analyst forecasts that after the short-term retracement, <\/span>Bitcoin could resume its upward momentum<\/span><\/a> in 2025. Based on his chart, he projects that the cryptocurrency could surge as high as $190,000 in Q2 next year.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price struggles at $94,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000. However, for the pioneer cryptocurrency to make this recovery, it would have to break past a crucial Fibonacci level.\u00a0 Why The Bitcoin Price Could Rebound To $107,000 Crypto analyst CobraVanguard released a chart analysis on TradingView, illustrating Bitcoin\u2019s price movement and potential recovery to $107,000 in the coming days. The analyst\u2019s price chart showed that Bitcoin was previously in a rising wedge, a technical pattern generally viewed as a bearish signal as it indicates the likelihood of a price decline during an uptrend.\u00a0\u00a0 Related Reading: Dogecoin Price Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15 True to the pattern, Bitcoin broke below the rising wedge, turning its price significantly bearish and triggering declines. Following this wedge breakout, Bitcoin plummeted from above $100,000 to $94,000 in just a few days.\u00a0 CobraVanguard has noted that the Fibonacci retracement levels at 0.618 and 0.382 are marked on the chart, possibly indicating potential resistance and support zones for Bitcoin. With the price of Bitcoin crashing after breaking the wedge, it is now consolidating close to the 0.382 Fibonacci level between $92,000 and $94,000.\u00a0 Considering Bitcoin\u2019s current bear trend, the 0.382 Fibonacci level may act as support if its price falls again. On the other hand, CobraVanguard has predicted that if Bitcoin can break above the 0.618 Fibonacci level between $98,000 and $100,000, it could indicate renewed bullish momentum, potentially triggering a price recovery towards a new all-time high of $107,000, marked as the \u201ctarget\u201d zone on the chart. Based on the trajectory of the arrow in CobraVanguard\u2019s chart analysis, it appears that before Bitcoin can hit $107,000, it may face an even steeper decline to $90,000. The trajectory suggests a rebound towards $94,000, followed by a dip to $92,000. From there, Bitcoin is expected to climb to $100,000, experience another major pullback towards $95,000, and then surge to the analyst\u2019s projected ATH at $107,000.\u00a0 Analyst Predicts More Downside For Bitcoin Prominent crypto analyst Jelle has expressed bearish sentiment on the Bitcoin price outlook towards the end of the year. The analyst compared Bitcoin\u2019s current price movements with those of the previous cycle, highlighting similarities in fractals and bearish trends.\u00a0 Related Reading: Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter? Jelle predicts that Bitcoin\u2019s price could drop below $90,000 this week from its current market value of $94,192. The analyst has based this projected price decline on low liquidity, highlighting that festive holidays like Christmas often trigger less liquidity for digital assets, leading to potential downside risks. Nevertheless, the analyst forecasts that after the short-term retracement, Bitcoin could resume its upward momentum in 2025. Based on his chart, he projects that the cryptocurrency could surge as high as $190,000 in Q2 next year.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":654971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-666711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Can Recover To $107,000 Again If This Important Level Is Broken<\/title>\n<meta name=\"description\" content=\"Over the 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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