Bitcoin (BTC) managed to escape from the area under $ 9,000 and started trading again at close to monthly lows. So what level is the new red line for the bulls?
Entrepreneur, mathematician, hedge fund manager and trader Koroush AK made a short-term forecast for Bitcoin. According to his statement, BTC was unable to leave the channel set up on Friday (June 26th) and stated that the downtrend could continue and that it depends entirely on whether the bulls could steer on the train and that the bears still have the power to push the leading crypto money down from its current position.
Apart from all these mentioned, some popular analysts state that the current situation is not bad for BTC holders. Dutch crypto trader and analyst Michael van de Poppe predicts a bullish scenario for Bitcoin (BTC) and Ethereum (ETH).
According to the famous analyst, the $ 8,800 and $ 8,900 range is seen as a very important region for Bitcoin. The bulls’ attempts to protect this range have the potential to lead a spectacular rally of leading crypto money.
According to the famous analyst, BTC seems likely to test between $ 9,600 and $ 10,000, $ 11,500 and $ 12,000, respectively, if it can be kept between $ 8,800 and $ 8,900.
Bitcoin (BTC) is trading at $ 9,149 as of writing.