Economist Predicts ‘Blow-Off Top’ For Bitcoin At $123,000 Post-Trump Win

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Economist Predicts ‘Blow-Off Top’ For Bitcoin At $123,000 Post-Trump Win - NewsBTC

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The analysis also notes other key Fibonacci levels that may serve as resistance points during Bitcoin’s ascent.The 0.382 level at $77,437.88 marks a significant initial resistance following the breakout from the previous all-time high.The 0.618 level at $85,205.47 could act as minor resistance as the price climbs.Additionally, the 1.0 level at $107,435.71 represents a crucial psychological and technical threshold, while the 1.27 level at $123,148.19 indicates a possible overshoot beyond the primary target zone.

US Tariffs implemented into a Recession—reinforcing the downturn and popping the Greatest Bubble ever.” Related Reading: Analyst Reveals What The Gold Chart Says About The Possibility Of Bitcoin Price Reaching $100,000 The Smoot-Hawley Tariff Act is widely regarded as a catalyst that deepened the Great Depression.

He suggests that this level is “very likely the top,” indicating that Bitcoin could reach this price point before experiencing a significant reversal.