Bitcoin shot above $111,000 nearing Sunday’s weekly close, encouraging the possibility of a possible recovery. There were positive signs of progressive movement, but analysts were cautious. BTC has the potential to explode, reaching the $112,000 range that market experts believe might start a bull rush. Some reservations, though, remained about the possible pullbacks in the days ahead.
BTC price moves remained optimistic by Michael van de Poppe. He observed that the Bitcoin had produced a higher low and it was still firm at $110,000. BTC is primarily stable in price, which is a positive sign of the future. He implied that a new bull market might rise up in case BTC surges above $112,000.
Source: X
Cipher X, on the other hand had recorded a possible falling point. He indicated that the existence of the market structure at present was an indication of the possibility of a pullback to the support level of the market at $108,000.
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Although he is optimistic about the future of BTC in the long term, it was prudent to exercise caution. He claimed that BTC may experience a minor correction should the momentum not increase beyond $112,000.
Source: X
Although there are various views about the short-run growth, the general feeling was unmistakable; the dynamics of BTC are uncertain, particularly at the weekend. Trading charges normally subside rarely in this period, and this makes it difficult to foresee the major changes in prices.
DAAN Crypto Trades gave a more detailed outlook, highlighting the flat performance of Bitcoin in Q3. He noted that the BTC had not broken through a narrow band in several months and it had no momentum in this quarter.
In the future, a further move might occur in Q4. Bitcoin, historically, could receive a parabolic price move near the end of the year. These movements could be a bullish or bearish move, but the fourth quarter is normally more volatile. He projected that the same trend was likely to happen with BTC, which could achieve a big step by the end of 2025.
Source: X
To short-men, Daan brought into existence the threat of a squeeze in the market. He clarified the fact that a sudden jump of prices could surprise bears. The historical track record of Bitcoin has many sharp increases that identify the market as a bet trap. This may make BTC attain a new all-time high in the near future.
Market expectations were also formed by the roles of technical indicators. The Fibonacci retracement was pointed out as an important indicator of the price change of BTC.
Following such levels, the price of BTC would decrease by up to 10% before it evaded support. BTC has been utilizing the historical critical 0.382 Fibonacci level, which is currently known as the price range around the mark of $100,000, as a solid level of support.
Source: X
In the event of a decline in Bitcoin, ZUN expects a 10% decline in BTC, which will constitute a worst-case scenario. Nonetheless, the crypto may find a strong surge once this support is reached. He projects that by the next few months, BTC might surge by 50%, forcing the price past the $150,000 level. This possibleaction of the price has continued to interest and inspire investors.
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