Bitcoin could retrace to 5-digit prices in a short dip.
Analyst expects a retracement to $99,5000 before pumping up to higher highs.
The price of BTC could set new ATH prices very soon.
The crypto market seems to be experiencing a short price dip allowing short traders to benefit from smart trades. In detail, analysts believe Bitcoin could retrace to 5-digit prices in a short dip before hitting prices higher than $105,000. The price of BTC went as high as $105,000 today before dipping to $102,000. Now, the price of BTC is moving sideways to hit $103,000. Will the pioneer crypto current dip to 5-digit prices soon?
Bitcoin Could Retrace to 5-Digit Prices
The pioneer cryptocurrency, Bitcoin (BTC) just reclaimed its 6-digit prices last week after spending the entire month of April pumping from $70,000 to 90,000. This was a welcome pump from Bitcoin spending all of Q1 of 2025 in a prolonged correction phase where BTC set an ATH at $109,000 before dropping to $75,000 and slowly pumping back to the $90,000 price range.
In the month of May, Bitcoin pulled a long-awaited run by reclaiming 6-digit prices once again. It first broke through a resistance barrier at the $94,000 target and then continued to pump to hit $99,000 and surpass that number to finally take 6-digit prices once again. The price of Bitcoin closed the week by hitting $100,000 and then $103,000 just as many crypto analysts predicted.
In this new week however, Bitcoin seems to be taking it slow and drift in a sideways movement between $102,000 and $105,000. So far, many reputed analysts with higher price targets are hoping to see Bitcoin (BTC) pump and hit much higher targets and set greater new ATHs in the coming weeks ahead. For the moment, one analyst believes that Bitcoin is in a short retesting phase.
Bitcoin Could Hit $99,5000 Before new ATHs Arrive
https://twitter.com/Washigorira/status/1922005259624349714
As we can see from the post above, this reputed crypto analyst, known for his many accurate predictions, makes an intuitive observation. To highlight, this analyst shares a short term update for Bitcoin (BTC). Here, the analysts says that BTC is currently in a retesting phase where the daily fair value gao could revisit the Tenkan red as depicted in the image accompanying the post.
What this would mean is that the Tenkan red is at the $99,500 price range, which means the price of Bitcoin (BTC) could retrace to this price level. Once it does so, the area will offer a strong confluence of support for Bitcoin to bounce. The analyst concludes by saying that the Bitcoin (BTC) price chart still looks bullish overall and that new higher highs is still very plausible for BTC to hit in the coming days ahead.
