Bitcoin Price Set to Soar with $110,000 Target in Focus

Monday, 29 April 2024, 12:48

Bitcoin is poised for a significant price increase as it faces a bullish bias, with a potential 75% upside to a target of $110,000. Trading experts suggest that the cryptocurrency's trajectory is on an upward trend, supported by the tightening squeeze between the Bollinger Bands and bottom bases. Despite market uncertainty and a consolidation phase, Bitcoin may be gearing up for a new bullish leg as it overcomes resistance levels and aims for new highs.
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Bitcoin Price Set to Soar with $110,000 Target in Focus

Bitcoin's Bullish Bias

Bitcoin continues to consolidate below the $65,000 mark, with a parabolic trend since November 2022 lows, signaling a bullish sentiment.

Price Target and Forecast Analysis

Trading experts anticipate a 75% increase to a target of $110,000, supported by Fibonacci extension levels and historical price patterns.

Market Conditions

  • The market is uncertain about Bitcoin's bottoming out amid post-halving retracement concerns.
  • Both bulls and bears are closely monitoring the $60,000 support level for potential price movements.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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