Bitcoin breaks ATH to make a new high at $67k. As of now, it has consolidated a bit and is trading just above its old all-time high at $65k. As I said yesterday that it is essential that BTC confirms support at its previous top before moving up parabolically. And the term “parabolically” is essential here because analysts predict that the new ATH is nowhere near the top. The analysts TechDev says that the 2-week chart shows BTC is ready for much higher highs. And according to his calculations, $200k-$300k looks programmed for Bitcoin.
Bitcoin’s bullish predictions
Another popular Twitter user, Plan B, shared his predictions about Bitcoin’s price in October. He said that by October, we would be above $63k, and at the end of November, $98k is very likely, and his December predictions stand firm at $135k. Considering the current price, his October prediction has been right. However, it will be important to see if the price of Bitcoin closes above $63k by the end of this month. If it does, then November is going to be another roller coaster ride for Bitcoin hodlers.
While the predictions by Plan B look bullish it is nothing when compared to the bullish predictions provided by Techdev. He says that $200k-$300k is very likely for BTC. And the price predictions that he gives are based on previous bull runs and their tops. He said that 2-week charts look good and we should expect a peak RSI of 93-94, and the stock RSI will also be maxed near the top of the bull run, and that is not the case now.
The double top pattern
Other than this, we have Crypto Caesar on Twitter, who says that $64k is not even half the top for BTC in this bull run. For his analysis, he compared the 2020 bull run to the 2013 one where we had a double top pattern and the price made a top above $1000 after the first ATH was near $200-$300. And with the new ATH 2020s rally has already been confirmed to have a double top. The question remaining is of how high?
What are your thoughts as Bitcoin breaks ATH but analysts say that the top is nowhere near? And do you think that the price of BTC would reach $200k this bull run? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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