Bitcoin’s price trajectory hinges on critical technical levels. Should Bitcoin fall below the key support zones—referred to here as the 'red lines' and the bold black line—it risks entering a bear market, potentially signaling the end of the current bull cycle. These levels are pivotal for sustaining the parabolic bull market’s final leg. Following an initial decline from current levels, Bitcoin is projected to drop to approximately $70K, where it may consolidate for a couple of months. For the best-case scenario to unfold, Bitcoin must hold above the critical $70-77K threshold and execute a sharp V-shaped recovery. From there, a robust rally could propel it beyond $100K around August, culminating in the cycle’s peak in September at its highest point. While this outcome appears unlikely in the short term, it remains the most favorable projection, contingent on Bitcoin maintaining strength above the $70K line. Failure to do so could prematurely terminate the bull cycle.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.