- Bitcoin makes slow recovery and takes $95,000 price momentarily.
- Reputed analysts shares two possible scenarios for BTC price.
- He expects another tumble to $89,000 or a signal for faster recovery.
Bitcoin is showing strong signs of trying to reclaim a higher price as the BTC price fluctuated between $95,000 to back to $94,000. With this fierce attempt to break to a higher price, the pioneer crypto asset has brought the market sentiment up by just a little. According to the Crypto Fear & Greed Index, the score is now up to 63 showing ‘Greed’ sentiment.
BTC’s Momentary Recovery to $95,000
So far, analysts have remained certain that the price of Bitcoin will likely continue in its sluggish sideways movement for the rest of the month. However, most are certain that the asset will be a bullish reversal by the start of February or even by the end of January. Once this breakthrough plays out, new ATH targets are very likely for BTC price.
Reputed Analyst Reveals Risk Strategy
For the present movement, one reputed analyst known for his many accurate predictions makes a statement. As we can see from the post above Doctor Profit says that he really wants to see BTC closing the daily above the $96,000 price. If this happens then bullish momentum will be confirmed for the short term.
The analyst goes on to highlight two resistance zones ahead at the $95,500 and $96,000 targets. He concludes that as long BTC does not regain with a daily close, sideways movement is likely, possibly to the $89,000 target or lower. He ends his post with a call to accumulate longs whenever the market proposes an opportunity for gains. He also mentions a focus on risk management in case BTC does recover faster than expected and before an even greater dip.
