- Bitcoin hovers just under the $66,000 price and could break major resistance level soon.
- BTC price could set a high ATH or trend high after a 51% surge to $99,000 – $100,000.
- This price high could occur if BTC breaks a descending broadening wedge pattern.
Bitcoin (BTC) price hovers right under the $66,000 price mark. Earlier analysts marked $68,000 to be a major resistance level for Bitcoin. Some noted that a breakthrough of this price level will take the price of BTC to the $80,000 – $90,000 price range setting a new temporary ATH for BTC.
Analysts Revisit Bitcoin Cycle Top Possibilities
The cycle top prices for Bitcoin this cycle have been set to go as high as $220,000, if not higher. Presently, as more bullish news enters the market like the $16 billion FTX returns, the $140 billion liquidity from the People’s Bank of China, and the expectation for a massive altseason along with a bullish Q4 prediction analysts are reconsidering this cycle top prediction.
One popular and reputed crypto analyst, Doctor Profit, had previously shared three cycle top scenarios covering bullish, bearish, and average prices. Now, he says it is necessary for him to reassess his prediction as new market news requires a higher BTC price for the bull cycle top. Thus, he hints at revealing his new prediction with a higher BTC cycle top price soon.
Bitcoin Could Hit $99,000 – $100,000 Soon
This sentiment sees to be ringing true with other seasoned and like-minded crypto analysts in the space. As we can see from the post above, this reputed crypto and Bitcoin analyst expects BTC to set a new trend high very soon that could surpass a $80,000 ATH expectation int he coming weeks or months.
In detail, he says that Bitcoin (BTC) is approaching the resistance level of a descending broadening wedge pattern. A successful breakout of this formation would lead to Bitcoin (BTC) setting a price target between $99,000 to $100,000 which is 51% away for the pioneer crypto asset.
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