Bitcoin Update: The bull market has been started
Bitcoin has initiated a robust uptrend since November 2022, with its current trading price nearing its previous all-time high at $61,000. At this critical juncture, two potential scenarios emerge:
- Bullish Scenario: Bitcoin could breach the $60,000 to $70,000 range, potentially driven by FOMO (Fear of Missing Out), thus bypassing a retest. This trajectory could propel Bitcoin to surpass $100,000, with projected targets ranging between $154,000 to $173,000.
- Bearish Scenario: Alternatively, Bitcoin may face rejection at its current level, leading to a decline towards support levels at $41,000 and $30,000. This downturn could prompt a retest of the $60,000 level.
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