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The Bitcoin Prize has continued to negotiate itself on the side since it hit a New top of all time (ATH) $ 111,900 earlier in May. In the midst of the current price action, Crypto Analyst Decode made it possible to know if the main crypto will bring together $ 120,000 or drop below $ 100,000 afterwards.
The analyst reveals the next step for the price of Bitcoin
In a X postDecode shared a table that accompanies him in which he carried out an ABC Wave analysis of the current action of the Bitcoin price. Based on its analysis, the main crypto should fall below $ 100,000 Before it gathers a new Ath of $ 120,000. The graph has shown that the BTC could fall up to $ 96,500 on the corrective movement of wave B.
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This drop at $ 96,500 should occur this month. Once it is done, Decode predicts that the Bitcoin price could reach more than $ 120,500 before the end of July. This will mark the impulsive movement of wave C on the rise. It aligns with the veteran trader Peter Brandt’s prediction That BTC could reach $ 150,000 at the end of the summer.
However, Crypto Analyst Killaxbt predicted That the price of bitcoin could reach the goal of $ 120,000 by mid-June. This coincides with the FOMC meeting in June, which is scheduled for June 17 and 18. A reduction in the Fed rate could serve as a catalyst for such a parabolic rally of the current level of BTC prices.
According to CME Fedwatch dataThere are 97.4% that the Fed keeps interest rates unchanged. As such, market players do not expect a drop in rate, which is why the price of bitcoin could pump massively if Jerome Powell and the FOMC were to surprise everyone. In addition, American president Donald Trump urged yesterday Fed to reduce rates from a full point.
A break could be on the cards
In a X postCrypto Analyst Titan of Crypto suggested that an out -of -the -ring break could be imminent for the price of bitcoin. He noted that the BTC is progressing within a 4 hour ditchwhich indicates a bullish reversal scheme. If confirmed, the analyst said that the break could target areas of $ 107,500 and $ 109,500, which are Fibonacci’s confluence areas.
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Cryptographic analyst Kevin Capital highlighted The solid V -recovery for the price of Bitcoin after the drop in the main crypto fell to $ 100,000 on May 5. However, the analyst noted that the BTC rebound in $ 105,000 zone will not matter before Rupture above the level of $ 106,800. The main crypto must also show real follow -up with 3 -day fences to 1 week to support an escape.
At the time of writing the editorial staff, the Bitcoin price is negotiated at around $ 105,000. More than 2% in the last 24 hours, according to data from CoinMarketCap.
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