Recent comments from cryptocurrency analyst Dan Gambardello reaffirm his long-standing Bitcoin price prediction, which ranges from $130,000 to $300,000 based on technical analysis.
Technical Analysis Supports Bitcoin Price Forecast
Gambardello states that his forecast is based on the completion of a multi-year inverse head and shoulders pattern, with target prices of $130,000 on the low end and $300,000 on the high end. These figures are derived from standard technical calculations for this pattern.
Critical Levels for Bitcoin Prices in the Short Term
The analyst highlights several key technical levels to watch in the coming days. The most important is the 20-week moving average, currently around $92,000, which Bitcoin has recently reclaimed. Gambardello emphasizes the importance of the weekly candle closing above this level.
Macro Factors Influencing Bitcoin Strength
Gambardello mentions that anticipated resolutions regarding tariffs and trade policies could restore investor confidence. Additionally, the conclusion of Quantitative Tightening (QT) could lead to increased liquidity in the markets, which the analyst believes would positively affect Bitcoin prices.
Ultimately, Gambardello maintains a long-term perspective, believing that markets are trending upwards despite potential short-term price fluctuations.
