Key Findings
- Analyst Captain Faibik predicts Bitcoin (BTC) could reach a new all-time high this month.
- BTC is currently testing the daily Moving Average 100 (MA100) level, which has historically provided support.
- BTC’s price action on the daily timeframe suggests a bullish rise.
- The daily Relative Strength Index (RSI) indicates a potential price recovery.
- BTC is still moving within a bullish flag pattern, suggesting a bounce back towards $68,000.
Bullish Target: $100,000
Faibik’s most bullish target for BTC is $100,000. He believes that bullish investors are driving BTC’s comeback and need to reclaim the $72,000 resistance level for a significant price increase.
Market Conditions
Despite a general market decline, BTC is currently trading at $57,701. Its market cap has dropped over 6% in the past day, while trading volume has increased by 61%.
