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!”
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.”
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:
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.”
Technical analysts use fractal patterns to define important support and resistance levels, as well as pinpoint potential trend reversals.
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.