Expert Disregards This Strong Bitcoin (BTC) Bearish Signal, Insists $200k Remains Target: Here’s Why

2024-12-18 00:30

Ash Crypto reveals evidence suggesting Bitcoin’s current rally may extend well beyond current price levels, potentially reaching $150,000 to $200,000. While some analysts point to bearish divergence on the daily RSI as a warning sign, historical patterns paint a different picture.

The analyst draws attention to a notable parallel between Q4 2023 and current market conditions. During the previous quarter, Bitcoin demonstrated resilience by surging from $32,000 to $43,789, despite showing bearish divergence on the RSI indicator. This same technical pattern is now emerging at higher price levels around $106,672.

Looking at previous market cycles, Ash Crypto emphasizes how similar technical setups have preceded significant price appreciation rather than marking local tops. The recurring nature of these patterns, particularly during strong uptrends, suggests the current RSI divergence may be another false bearish signal.

Price Target Analysis

Building on historical fractal analysis, the expert projects Bitcoin could reach between $150,000 and $200,000 in the coming period. This forecast draws strength from the asset’s demonstrated ability to continue climbing despite seemingly bearish technical indicators, as evidenced by the Q4 2023 price action.

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While traditional technical analysis might suggest caution at current levels, the broader market structure and historical precedent support the possibility of continued upward momentum. The expert maintains that current RSI readings, rather than signaling an imminent top, may instead mark an interim point in Bitcoin’s larger bullish cycle.

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The post Expert Disregards This Strong Bitcoin (BTC) Bearish Signal, Insists $200k Remains Target: Here’s Why appeared first on CaptainAltcoin.

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current bitcoin bearish analysts point potentially divergence

Источник: captainaltcoin.com

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