The analyst added that the projected target is $137,000 if this bull pennant is confirmed. Related Reading: Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target Crypto analyst Egrag Crypto stated that a daily close above $93,000 will send a strong bullish signal, while raising the possibility of BTC rallying above $100,000.
He remarked that the left shoulder and double head had already formed while the right shoulder is currently forming, with BTC at risk of suffering a massive crash once this happens. Related Reading: Analyst’s Bitcoin Price Prediction From March Plays Out, Here’s The Rest Of It As part of the expected move, Melika Trader suggested that the Bitcoin price could show a possible fake breakout above the resistance between $87,000 and $88,000.
Based on this, the analyst predicts that the largest crypto by market cap could crash to as low as $78,000. Bitcoin Price Forming Head And Shoulders Pattern In a TradingView post, Melika Trader revealed that the Bitcoin price is forming a complex head-and-shoulders pattern.
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