Bitcoin exhibits significant volatility, having reached a new record, but with current fluctuations and predictions from analysts, questions arise about future price movements.
Current Situation with Bitcoin
Since July 8, Bitcoin has risen by 14%, reaching a record level of nearly $123,000. Currently, its price fluctuates between this mark and $115,000.
Chart Analysis and Predictions
The analysis indicates that Bitcoin is forming a 'bull pennant', suggesting a potential rise to $140,000. Trader Titan of Crypto notes, 'Welcome to the final and most explosive phase of the bull run.' Meanwhile, other analysts like Merlijn The Trader predict a target of $140,000 based on an inverted head-and-shoulders pattern. However, more cautious predictions, such as those of Marcus Corvinus, set a target at $125,000.
Support and Potential Drop
Some analysts warn that Bitcoin could temporarily drop to the support level of $115,000. AlphaBTC also mentions the potential for further decline to capture liquidity at this level.
In a complex market situation, Bitcoin demonstrates strong fluctuations. Despite predictions of growth to $140,000, analysts' opinions vary, and short-term declines cannot be ruled out.
