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Bitcoin Price Risks: Could Drop Below $100K Despite Bullish Outlooks
Despite breaking a new all-time high of $111,900, some crypto analysts warn of a potential significant decline in Bitcoin's price that could push it below the $100,000 level. Factors cited include geopolitical tensions, particularly the Russia-Ukraine conflict, which could divert investor interest towards safer assets like gold, and observed outflows from Bitcoin ETFs. Technical indicators such as the RSI trending down to 50 and the MACD showing bearish signals support the possibility of a correction, potentially dropping Bitcoin to around $96,765 or even $99,000 as it tests psychological support levels. Yet, other analysts remain optimistic, pointing to bullish chart patterns and breakout structures that could propel Bitcoin to $135,000 or even $150,000 by mid-2025, suggesting a dual outlook based on technical and fundamental factors. Currently, Bitcoin trades around $105,400 amid recent declines.
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AI Analysis
The recent rally of Bitcoin to an all-time high of $111,900 has prompted a mixed outlook among analysts. On the one hand, technical indicators such as the RSI and MACD suggest weakening momentum, hint...
AI Recommendation
Considering the technical indicators pointing toward a potential correction, it would be prudent for traders and investors to exercise caution and avoid aggressive long positions at this moment. Short...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.