BTC price struggled to close above $65,000, leading to profit-taking. Now, the price is at $63,744. The volatile price is due to developments related to the US elections, and we may see new developments impacting the price until November. So, what are the current predictions from experts?
Bitcoin Predictions
Firstly, these analyst predictions came before the recent BTC drop, so there may be price differences. However, even for short-term movements, large swings in 15-minute charts should not be overemphasized. BTC price fluctuates amid rumors that Harris might enter the election instead of Biden.
Trump will easily win the election, or Biden will somehow hand over the duty. Details like his age and mental state, which raise doubts, might force the Democrats to do so. The price, which reached $66,000 the previous day, made a significant attempt at the short-term investor cost level. If it could close above, the move to $70,000 could have been triggered much faster.
Popular crypto analyst RektCapital wrote that the king of cryptocurrencies is at an important level and needs a solid support test.
“Bitcoin is not yet fully ready for a successful retest of the ~$65,000 level as new support. To confirm Bitcoin’s return to the $65,000-$71,500 region, it will need a similar retest as in the not-too-distant past (blue circle).”
The analyst, who mentioned the risk of rejection, likely warned about what we are currently experiencing. Holding $63,500 will be important at the daily close.
Expert Predictions on Crypto
Analyst and podcast host Scott Melker, known as Wolf of All Streets, made predictions about the next stage. According to him, the positive low-time frame relative strength index signals were clues about where to go next.
“The bear divergence was canceled. Nice. We have now confirmed the hidden bullish divergence (blue), which is a continuation signal.”
Analyst XForceGlobal wrote the following;
“Overall, if the buying pressure continues to complete at least the first wave 1 of the medium degree in orange, we expect the bullish trend to continue to gain more confidence that we will finally break the ATH and enter the outcome of the primary wave 5 of the highest degree.”
The last analyst, Predator, expects a test of $73,800 soon.
