Bitcoin News, Crypto News
Bitcoin’s $110K Potential Remains, But Analysts Caution About A Possible Dip Below $40K First
Sep
Bitcoin’s Potential Surge to $110K and the Risk of a Dip Below $40K
Will Bitcoin experience a dip under $40,000 before it sets its sights on reaching a six-figure value?
Bitcoin Price Forecast: Aiming for $110K by 2025
According to prominent crypto analyst Titan of Crypto, Bitcoin (BTC) is expected to reach $110,000 by 2025, supported by a significant technical chart pattern.
In a recent post, the analyst stated:
“Bitcoin $110,000 is on the way. The Cup & Handle pattern is still in play. A bit more patience—the last quarter of the year is going to be epic!”
BTC/USD, 1-week chart, Cup and Handle formation. Source: Titan of Crypto
The cup-and-handle pattern is a well-known bullish chart formation often used to anticipate uptrends and find buying opportunities.
Another analyst, Elja Boom, is optimistic as well, predicting a breakout toward $100,000 in the first quarter of 2025:
“BTC giant inverse head and shoulder pattern. When this breaks out, #Bitcoin will shoot above $100K. My timeline is ATH in Q4 and $100K in Q1 2025.”
BTC, head and shoulder formation. Source: Elja Boom
Concerns About a Possible BTC Drop to $40K
Despite the optimistic forecasts for Bitcoin, there is concern about a potential correction leading to a drop below $40,000.
Analyst Magoo PhD has indicated that before reaching the high of 2025, Bitcoin could face significant setbacks:
BTC/USD, hypothetical correction. Source: Magoo PhD
Conversely, some analysts, like Moustace, believe that the correction may not be as drastic. Moustace is targeting a market bottom around $57,000:
“I know everyone is waiting for $53,500, but I think the low for $BTC is in here/or very close (~$57k), if it continues to copy the covid 2020 fractal.”
BTC/USD, 1-day chart. Fractals. Source: Moustache
Technical analysts use fractal patterns to define important support and resistance levels, as well as pinpoint potential trend reversals.
Bitcoin Exchange Liquidation Map. Source: CoinGlass
Currently, Bitcoin enjoys considerable support around the $57,000 mark. A dip below this level could trigger the liquidation of more than $860 million in leveraged short positions, according to data from Coinglass.
Note: This content does not constitute financial advice. All investment and trading activities carry risk, and it is essential for individuals to perform their own research when making decisions.