Analysts: Bitcoin may struggle to reach $150,000 by year-end, technical indicators suggest a significant pullback may be imminent

Deep Tide TechFlow news, on June 7, according to Cointelegraph, analysts pointed out that after Bitcoin recently hit an all-time high of $112,000, it has fallen below $105,000, raising doubts in the market about whether it can reach the $150,000 target by the end of the year. Technical analysis shows that the weekly chart for Bitcoin has a bearish divergence in the RSI similar to that of the 2021 cycle peak, suggesting a potential decline of over 50%, with a target price of around $64,000. Veteran trader Peter Brandt warns that Bitcoin needs to return to the parabolic trend line, or the current bull market cycle may come to an end. However, some analysts remain optimistic about Bitcoin, believing that if the on-chain metric NUPL/MVRV ratio breaks above 1.0, the price could soar to the $150,000 to $175,000 range. Currently, Bitcoin is searching for direction around the $105,000 mark.