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While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC

While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC

While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC

Hier ist eine Zusammenfassung der aktuellen Marktlage und Prognosen für Bitcoin: Aktuelle Marktlage - Bitcoin bleibt im Preisspektrum von 90.000-100.000 US-Dollar - Einige Analysten erwarten eine Korrektur aufgrund eines "Head-and-Shoulders"-Musters im Tageschart Prognosen - Aksel Kibar: Bitcoin könnte auf 80.000 US-Dollar fallen, wenn das "Head-and-Shoulders"-Muster sich vollständig ausbildet - Ali Martinez: Verlust des kritischen Preises von 92.730 US-Dollar könnte zu einem "freien Fall" führen - Tone Vays: Ein Handel unter 95.000 US-Dollar wäre "sehr, sehr schlecht" für Bitcoin - Peter Brandt: Bitcoin könnte aus einem "breitenden Dreieck" herausbrechen und auf 70.000 US-Dollar fallen Langfristige Prognosen - Thomas Lee: Bitcoin könnte bis 2025 auf 250.000 US-Dollar steigen - Sygnum: Bitcoin könnte aufgrund starken institutionellen Interesses "Nachfrage-Schocks" erleben und höhere Preise erreichen Aktueller Preis - Bitcoin wird zum Zeitpunkt des Schreibens bei 94.149 US-Dollar gehandelt, ein Rückgang von 2,5% in den letzten 24 Stunden.

Bitcoin [BTC] has been struggling over the past week, with the crypto’s price unable to register a major breakout. In fact, according to some analysts, BTC’s latest bearish price action could underline the possibility of BTC once again falling to $60k. Will Bitcoin bears push BTC to $60k again? CoinMarketCap’s data revealed that BTC’s price has only moved marginally in the last seven days, with its value climbing only by a modest 2%. At the time of writing, Bitcoin was trading at $96,158.09 with a market capitalization of over $1.9 trillion. In light of the crypto’s price action, Ali, a popular crypto analyst, shared a tweet, revealing quite a few intriguing predictions. One of them from Peter Brandt claimed that BTC “could be about to break down of a broadening triangle,” projecting a retracement towards the $70,000 zone. According to Martinez, from an on-chain perspective, a Bitcoin price correction to $70,000 is possible. Especially since below $93,806, it is pretty much open air all the way down to $70,085.$BTC