Bitcoin (BTC) has not met crypto investors' expectations in the last two quarters, and volatility continues. In this article, analysts Carl and Jelle shared their latest Bitcoin projections, while another analyst presented his target for DOT Coin.
2 Analysts’ Bitcoin Predictions
The largest cryptocurrency by market value, BTC, was at $55,200 at the time of writing. Although altcoins have largely turned green, they have not been able to compensate for their losses. The ongoing low price levels of BTC and the lack of appetite ahead of the first rate cut are confusing.
Carl's Chart Analysis
On August 19, Carl shared the following chart and said, 'a fake parallel channel with numerous fakeouts may form.' Today, he published an updated chart and noted that the parallel channel he mentioned had broken. Although the new chart indicates the descending channel's structure has started to break, it's challenging to discuss a definite reversal without surpassing the $58,000 level. The targets are $49,000 on the downside and $63,000 on the upside.
DOT Coin Predictions
It was one of the most popular altcoins of 2021. However, prolonged fluctuations in the cryptocurrency markets have negatively affected the Polkadot (DOT) chart. Increasing alternatives have strengthened the competitive environment, while investors' risk appetite has weakened. This has caused the DOT Coin price to see new lows. Still, the potential of assets that performed well and survived in previous bull cycles should not be underestimated. A crypto technical analyst named Waleed Ahmet shared the following chart and stated that he expects a reversal for DOT Coin if it closes above $4.3.
The presented forecasts highlight the uncertainty in the cryptocurrency markets, indicating potential levels for Bitcoin and DOT Coin. Investors are advised to monitor changes closely and analyze the provided data to make informed decisions.
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