Bitcoin continues to remain surrounded by all kinds of price predicitons. Check out the latest ones below.
The next days will be crucial for BTC
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $28,576.
The popular crypto strategist believes that the next few days will be crucial for the future prospects of Bitcoin (BTC).
Crypto analyst Michaël van de Poppe said that he’s looking for BTC to retest the 200-week moving average (MA) as support.
He believes that a successful retest of the key technical indicator could suggest that the Bitcoin correction has concluded.
“If you go back in history, the 200-(week) MA retest is a great period to accumulate.
In the past six months, Bitcoin has been swimming beneath for a long period, making it the most undervalued since existence.
Next week is make-or-break. Fast breakout upwards -> end of correction.”
Van de Poppe also says that a reclaim of a key support level on the lower timeframe may ignite rallies for BTC. Failure to do so could see Bitcoin trading to as low as $26,000 before a bounce can take place.
“Classic choppy pattern on Bitcoin.
Rejects at $27,200 and consolidates, as CME (Chicago Mercantile Exchange) gap is also around $26,900.
Bitcoin needs to break and flip $27,200 if we want to see any sustained momentum.
Beneath us, at around $26,000-26,500 -> 200-week MA.”
Bitcoin prediction for June
A widely followed crypto trader says king crypto Bitcoin (BTC) may fall further in June before rebounding.
Crypto analyst Justin Bennett tells his 112,600 Twitter followers that $25,000 might be the next stop for BTC.
“BTC is still catching a bid at $26,560, but if this level fails, $25,000 is next.
While many will bid $25,000 for a macro long, I think we see lower in the coming weeks.
Something like this is my base case but may be tweaked as things unfold.”