is the $BTC Price predictions analysis right or wrong ?
Bitcoin is witnessing a tough battle between the bulls and the bears at $105,000, but several altcoins are showing strength with potential breakout setups.
Key points:
Bitcoin remains at risk of falling to $100,000, but the long-term picture remains intact.
Focus shifts to select altcoins, which are on track to rise above their respective overhead resistance levels.
Bitcoin
BTC $103,462
is holding near the $105,000 level, but the failure of the bulls to sustain the bounce on June 3 suggests a lack of demand at higher levels. Analysts expect Bitcoin to fall to the psychologically crucial $100,000 level.
Analyst Willy Woo cautioned that buying Bitcoin in six figures may not make sense in the short term, but it will possibly be “one of the best investments you'll see in your investment career” within the next 10 years.
Another bullish view came from Sygnum Bank. In its Monthly Investment Outlook, the bank’s analysts said that institutional adoption and the rise of Bitcoin acquisition vehicles had resulted in a 30% drop in Bitcoin’s liquid supply, which could create the “conditions for demand shocks and upside volatility.”
Could Bitcoin plummet to $100,000, pulling altcoins lower? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
Bitcoin is witnessing a tough battle between the bulls and the bears near the 20-day exponential moving average ($105,347).
Buyers will gain the upper hand if they push and sustain the price above $106,800. That clears the path for a rally to the $109,588 to $111,980 overhead resistance zone. Sellers are expected to defend the zone with all their might because a break above it could launch the BTC/USDT pair toward $130,000.
The bears will have to achieve a close below the $103,000 support to prevent an upside. The pair could then plunge to the vital support at $100,000.
