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Analyst Discusses Bitcoin Price Path To Heighten Fear Factor

MilkyBull, a well-known personality in the world of cryptocurrency analysis, has drawn attention lately for his analysis of Bitcoin’s price trajectory and his prediction of a situation that might cause more fear in the market.

MilkyBull’s analysis delves into the subtleties of Bitcoin’s movement, identifying patterns and trends that could have a big impact on investor mood. 

Bitcoin Triggering Anxiety In The Market

According to the analyst, the market will get even more fearful of the Bitcoin price path before it bottoms out and continues to rise. The analyst claimed that because of the current price of BTC, Blackrock iShares Bitcoin Trust (IBIT) saw its first-ever outflows since the approval of the Bitcoin Spot Exchange-Traded Funds (ETFs).

Furthermore, he reminded us that positive news always denotes the peak of a Bitcoin bull cycle, while negative news denotes the bottom. With this notion, investors could position themselves for the next trajectory BTC takes.

To further explore his narrative, MilkyBull drew attention to a previous analysis regarding Bitcoin’s final local bottom in this cycle. Given that BTC is following the PA (Price Action) of 2017, MilkyBull believes that the crypto asset might have bottomed out or come close to it.

Historically, the bull market support band strongly sustains the Bitcoin market in bull cycles. As a result, the analyst is confident that Bitcoin’s price may wick through the support and recover.

Another aspect highlighted by the expert is the Global liquidity during past bull cycles. Presently, Global liquidity is closely linked to Bitcoin at a level where it recovered in October 2022 and October 2023, which led to the inception of a massive surge in the digital assets markets, sparking a massive surge in the whole cryptocurrency market. 

With the macro volatility on Tuesday, MilkyBull stated that Bitcoin is at a pivotal juncture for the last local bottom before it resumes its rise to the cycle peak. Though the market does not always respond to such expectations, the majority of members in the crypto space are requesting a correction to $48,000.

BTC Poised For A Breakout On The Upside

Another crypto analyst Captain Faibik has also spotted the largest cryptocurrency asset undergoing a price recovery lately. According to the expert, although BTC is currently seeing a rebound, it is still moving inside the falling wedge formation.

Related Reading: Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die”

Thus, Bitcoin’s bullish investors must overcome the $61,000 resistance level for the digital asset to break out from this formation. Should BTC break out from this formation successfully, Captain Faibik anticipates a notable move on the upside toward $78,000.

Given that BTC is already trading above $61,000, all eyes are now set on the $78,000 price level. At the time of writing, BTC was situated at $61,701, indicating a rise of over 5% in the past day. Data from CoinMarketCap shows that its market cap has increased by 5%, while the trading volume is down by 21%.

Bitcoin

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Bitcoin Milestone Ahead? Analyst Forecasts New Peak This Month

In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert and enthusiast, has emerged with an optimistic outlook for Bitcoin (BTC) foreseeable future trajectory, predicting that the crypto asset could rise to a new all-time high before this current month closes. 

Bitcoin To Reach New All-Time High In May

Faibik’s analysis, which is based on his in-depth knowledge of cryptocurrency dynamics and a sharp eye for market trends, explores the possibility of a large short-term rise in Bitcoin. According to the analyst, Bitcoin is at a key junction currently testing the daily Moving Average 100 (MA100) level once more after recovering from it in the past.

Bitcoin

Historically, the crypto asset has found considerable support at the 100MA level. Should BTC recover from this point on, Captain Faibik anticipates a significant rise on the upside in the upcoming days. Thus, he expects the digital asset to reach a new all-time high within the month.

The post read:

Last time, BTC bounced back from the daily MA100, and now it is testing it again. If it bounces back from here, we can expect a Bullish Rally in the coming days. New All the High could be incoming this month

The crypto analyst noted Bitcoin’s price action in the daily timeframe also suggests that a bullish rise is on the horizon. Faibik stated that on the daily timeframe chart, BTC is still moving above the major trendline and inside the green box indicated in his chart. As a result, the analyst expects BTC to undergo a quick comeback.

Related Reading: If History Repeats, This Is How Bitcoin Price Will Perform In The Next 6 Months

Another notable finding from Captain Faibik is that the daily Relative Strength Index (RSI) has been drifting below a trendline that has been in place for some months. Although this might indicate a brief waning of positive momentum, Faibik interprets it as a sign of an impending price recovery for Bitcoin. Given that BTC is still moving inside the bullish flag pattern, the expert anticipates a bounce back towards $68,000 in the upcoming days.

$100,000 Price Target For BTC

Captain Faibik’s most bullish target for BTC recently is the $100,000 price mark. Last week, Faibik pointed out key narratives that could catalyze Bitcoin’s price to $100,000 in the coming months.

According to the expert, the presence of bullish investors in the market was the reason why BTC was trying to make a comeback in the previous week. Thus, for a significant price increase to $100,000, these investors must retake the crucial resistance level of $72,000.

Furthermore, Faibik highlighted that BTC Bulls have solidly secured the weekly Exponential Moving Average (EMA) 10 following the October 2017 Descending Channel breakout. Due to this, the crypto analyst is setting $100,000 as the digital asset’s next price target.

Following a decrease of more than 13% over the previous 7 days, the price of Bitcoin is currently trading at $57,701. In the last day, its market cap has plummeted by over 6%, while its trading volume has increased by about 61%.

Bitcoin

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Analysts Identify Key Scenario For Bitcoin Hitting $100,000

Prior to the Bitcoin Halving event, BTC’s price saw considerable instability, but it has since rebounded, reaching the $66,000 level, triggering bullish predictions from top crypto analysts regarding the coin’s future path.

Captain Faibik, a crytocurrency analyst and trader, has emerged with an intriguing prediction, underscoring a narrative that could potentially propel the price of Bitcoin to the coveted $100,000 mark in the upcoming months.

Bitcoin Poised For A Notable Rally To $100,000 

According to Captain Faibik, Bitcoin has managed to hold the $60,000 support level in the wake of bullish investors in the market. As a result, the largest crypto asset by market cap is currently making a strong comeback.

These bullish investors, according to Faibik must reclaim the crucial $72,000 resistance level in order to see a major rally to the $100,000 price level. This scenario acts as a ray of hope for the cryptocurrency community, igniting speculations and influencing projections about Bitcoin’s potential for future growth. Given the anticipated impact of the Bitcoin Halving and bulls, the $72,000 level could be realized in the short term.

Bitcoin

The expert previously highlighted that the Bitcoin weekly candle closed above the Exponential Moving Average (EMA) 10, demonstrating that the bulls are still very much in charge of the market. Following the Descending Channel break out in October last year, BTC Bulls has firmly secured the weekly EMA10, prompting the crypto analyst to put his next price target for the digital asset at $100,000.

Faibik also noted that the daily Relative Strength Index (RSI) for Bitcoin has emerged from a falling wedge pattern. This breakout suggests that a 15% to 20% bullish rally in Bitcoin’s value is on the horizon.

Meanwhile, in the daily timeframe, a bullish flag formation is underway, and in the event of an upward breakout from the bullish flag, Faibik anticipates a new all-time high for Bitcoin by May.

Is A $1.5 million Price Level Possible For BTC?

One of the most bullish predictions for Bitcoin this year came from Ark Invest Chief Executive Officer (CEO) Cathie Wood. The CEO foresees the digital asset to rise by over 2,000% reaching a whopping $1.5 million by 2030.

During an interview in Hong Kong, Wood reiterated her projections for BTC, which were supported by a thorough investigation that included institution surveys and evaluations of market volatility.

She stated:

I have been asked this question from different angles, and our analysis from multiple perspectives indicates that by 2030, Bitcoin could rise to $1.5 million. This price prediction is based on a survey of institutions, using a discount rate and volatility analysis.

Initially, Wood’s forecast for Bitcoin was estimated at $600,000 in the next six years. However, considering the effect of the Bitcoin Spot Exchange-Traded Funds (ETFs), she now believes the coin has the potential to hit $1.5 million.

Bitcoin

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Bitcoin Meteoric Rise: Analyst Predicts $90,000 Milestone In April

Amid the bearish pressure witnessed in the price of Bitcoin, Captain Faibik, a popular cryptocurrency analyst and trader, has identified the potential for a significant rebound that could send BTC to an unprecedented level before the end of April.

Bitcoin Might Be Poised For New Peak This Month

Bitcoin is presently exhibiting a downward pressure on low timeframes, falling to the $65,000 price level after briefly touching $71,000 on Monday. Despite the adverse price action, Captain Faibik is confident there will be an uptick in the price of BTC this month.

Captain Faibik’s analysis emphasizes Bitcoin’s bullish pennant formation on the 12-hour timeframe chart. According to the crypto expert, an upside breakout is anticipated later this week.

Bitcoin

Should there be a successful breakout, as anticipated by the expert, Bitcoin might be poised to reach a new all-time high. As a result, Captain Faibik has set his price target around the $88,000 and $90,000 threshold this month. The post read:

BTC Bullish pennant formation on the 12hrs timeframe Chart. Expecting an upside Breakout later this Week. In case of a Successful Breakout, Bitcoin might hit $88,000-$90,000 this month.

The expert has also confirmed that the bullish pennant developed on the daily timeframe chart. Thus, the analyst is optimistic that the breakout will materialize soon.

The analyst has also identified some buying pressure on low timeframes, triggering momentum for the crypto asset. “BTC Bulls are defending the 4-hour Exponential Moving Average (EMA) 200 around $65,600 and bullish pennant also in play,” he stated.

However, for the Bitcoin bulls to regain momentum, they must reclaim the critical resistance level of $70,000. This suggests the bulls still have more work to do to reach the resistance level.

Currently, Bitcoin is trading at $66,125, with a decline of over 5% in the past 7 days. Its trading volume has plummeted by nearly 9% in the past day, while its market cap is slightly up by 0.81%.

Possible Correction On The Downtrend

While Faibik anticipates a recovery, some analysts are pessimistic about the asset’s movement and express worries about a potential pullback. One of the crypto experts who predicted a further correction in BTC is The Fomo Factory.

The expert discussed possible outcomes and provided several worrying price targets for the coin. According to the analyst, Bitcoin could drop to $60,000, representing strong support, and to the $52,000 and $56,000 Fibonacci retracement line.

The analyst further cautions against discounting a more significant retrace to the $48,000 and $42,000 region.

This prediction casts a shady ground for the largest cryptocurrency asset as the Bitcoin halving event approaches. However, given the previous impact on the coin’s price, there is hope for a rally in the short term.

Bitcoin

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Shiba Inu Price Prediction: Analyst Forecast 2X By Mid-December

Popular cryptocurrency market analyst Captain Faibik has recently shed more light on his predictions toward the price of Shiba Inu (SHIB) and revealed where the cryptocurrency ought to be by mid-December. 

Crypto Analyst Optimism On Shiba Inu

The crypto analyst took to his official X (formerly Twitter) handle to share his projections on the price movement of Shiba Inu. According to the analyst’s post and token chart, SHIB has crossed a trendline near the $0.00000839 price level.

Due to this data, the analyst believes the crypto asset is going through a significant retest. Captain further highlighted that if the retest is prosperous, the token might experience a bullish rally of up to 2X by mid-December.

SHIB has broken out of a Major Trendline and is currently undergoing a Retest. If the retest is successful, we might witness a Bullish Rally up to 2x by mid-December. 

Additionally, the analyst highlighted that the 2X price surge could take the token as high as $0.00001678. Nonetheless, a careful look at the chart on the X post reveals just how difficult it will be for this retest to succeed. 

So far, Shiba Inu’s price has exceeded the $0.000016 threshold just once since May 2022. This was during a brief spike that occurred in August 2022.

Shiba Inu

Also, the crypto asset price growth has not been as impressive as other altcoins. Shiba Inu’s year-to-date (YTD) price growth is up 4.97%.

However, SHIB is currently trading at $0.0000086, up by 22% over the last 24 hours, which suggests a more optimistic outlook. Its market capitalization is approximately $5.2 billion, with a trading volume of $162 million over the past 24 hours.

The crypto market analyst’s predictions were fueled by Shiba Inu’s grit, which has enabled it to regain its brilliance in the face of numerous obstacles. His predictions seem to have sparked increased confidence in the Shiba Inu community.

Algorithm Prediction Of The Crypto’s Price By December

Captain Faibik’s shared one of the other predictions for Shiba Inu’s price by December. Recently, price algorithm prediction from crypto analytics firm CoinCodex has also predicted a bullish outlook for the token by December.

According to the forecast, Shiba Inu’s price will hit $0.0000095 by December 11, indicating a 10% increase from its price as of the time of prediction. Its prediction becomes more likely to come true, given the possibility of additional whales and regular investors joining the token market.

The projections also highlighted about 4 technical analysis indicators that suggest bearish conditions, while about 24 indicate optimistic signs. Additionally, the token’s current RSI value of 63.05 is neither overbought nor oversold, according to the prediction.

Shiba Inu