Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What’s Next

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However, if Bitcoin loses this level, it could lead to a significant downtrend.  Related Reading: Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good CrediBULL Crypto stated that a break below $94,000 will indicate a momentum shift and a potential larger correction that could cause Bitcoin price to drop to the low $80,000 range.

In line with this, crypto analyst Tony Severino provided insights into what could come next for Bitcoin.  What Next For Price After Close Above Bull Channel In an X post, Tony Severino mentioned that the Bitcoin price is now retesting the median in the bull channel, with an evening star pattern forming on the chart, which hints at a potential reversal.

If this median range holds, the crypto analyst expects Bitcoin to break into the upper channel above the $100,000 level.  Tony Severino revealed that the target for this uptrend channel is $267,000.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto news Crypto analyst Btc price BTCUSDT Btc Bitcoin price Bitcoin BTC news Btcusd Analyst Crypto Bitcoin Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 16:30:40 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 440 words

Reading Time: 3 minutes read

Sentences: 68 lines

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Copyright Owner: © NewsBTC

News ID: 23892682

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