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Reputed Analyst Says Bitcoin Price Could Dip to $89,000 or a Close Above $96,000 Could Signal Price Recovery
Bitcoin is exhibiting strong signs of attempting to reclaim a higher price as its value fluctuated between $95,000 and back down to $94,000. This intense effort to break through the higher price has brought the market sentiment up slightly.
According to the Crypto Fear & Greed Index, the score now stands at 63, indicating “Greed” sentiment. BTC’s momentary recovery to $95,000, in particular, has piqued interest and raised expectations about its future trajectory.
Analysts have previously predicted that Bitcoin will likely continue in a sluggish sideways movement throughout the rest of the month. However, most are convinced that the asset will undergo a bullish reversal by the start of February or even by the end of January. Once this breakthrough occurs, new ATH (All-Time High) targets are very likely for BTC’s price.
One renowned analyst, known for his many accurate predictions, has shared his insights on Bitcoin’s possible trajectory. According to him, it is crucial that #BTC closes the daily above $96,000 to confirm short-term bullish momentum. Two resistance zones lie ahead at $95,500 and $96,000. As long as this does not occur, sideways movement is likely, potentially reaching a low of $89,000 or even lower.
In the event of a close above $96,000, he predicts that it could signal a price recovery for Bitcoin.
Source: cryptonewsland.com
