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Is Bitcoin preparing to jump? Analyst points to nearly 100% scenario for BTC

The price of Bitcoin has risen by nearly 15% over the last 2 weeks, but according to analyst Tickmill Marcin Kiepas, sellers will be in control in the coming days. This is primarily due to the formation of a descending channel, in which the cryptocurrency has been since the beginning of the year, and there is no indication that it will break out of it. Thus, the expert expects a decline in the region of $83,000. On the other hand, a significantly less likely scenario assumes that if buyers manage to break out of the channel, the target will be the barrier of $100,000.

Since the beginning of the year, the BTC/USD price has been in a medium-term downward trend, which has already exceeded 20%. Moreover, since January, prices have been moving in a descending channel, and the market is currently at a critical moment.