Several veteran crypto analysts are suddenly turning bullish on Bitcoin as BTC hovers around $78,000.
The pseudonymous analyst DonAlt tells his 720,800 followers on X that Bitcoin is likely heading to the $90,000 range after printing higher high prices on the weekly timeframe.
“I don’t see why so many are bearish here based on technicals. You can easily justify being bearish because of geopolitics. But chart wise, really doesn’t look bad. I remain cautiously optimistic about BTC price.”
Looking at the trader’s weekly chart, he suggests that Bitcoin will likely reclaim $82,000 and $86,000 as support levels before breaking out to $95,000, about a 26% increase from its current value.
Next up, analyst Dave the Wave tells his 165,200 followers on X that Bitcoin is breaking through diagonal resistance on an ascending trendline, indicating more upside potential. He also predicts Bitcoin will hit $95,000 by June.
Lastly, crypto trader Michaël Van De Poppe tells his 817,700 followers on X that Bitcoin’s fundamentals remain strong.
“Despite this little correction on the markets [Tueday], there’s not much that has changed on Bitcoin. The momentum is still there, the technical structure remains intact too.”
Looking at his chart, the trader suggests Bitcoin will soon attempt to break through the resistance level at $86,549.
Bitcoin is trading for $78,065 at time of writing, up 1.2% on the day.
Follow us on X @InvCryptoDaily
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
___________________
Images May Be Sourced From Pixabay, Creative Commons & Midjourney
This post Crypto Veterans Flip Bullish on Bitcoin As BTC Trades at $78,000 – Here Are Their Price Targets may be modified as updates unfold.
Please note, this site provides content for entertainment purposes only and does not offer financial advice. Read more here
