Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-is-testing-critical-levels-while-it-may-soon-offer-a-great-buying-opportunity/">Bitcoin Is Testing Critical Levels, While it May Soon Offer a Great Buying Opportunity!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the recent upswing, the Bitcoin price appears to be in the final phase of recovery that it triggered after marking the bottoms after the FTX collapse. After maintaining a fine upswing since the start of the year, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> has soared beyond 170% to mark yearly highs close to $44,500. Meanwhile, the price displays huge potential to reach new highs beyond $45,000 before the end of the year. 
The bitcoin price is poised to rise above $45,000, but with a twist! 
Considering the historical price pattern, the BTC price is trading within the range back in 2021–22, wherein the price broke down later and printed the bear market lows, now at $15,500. 
The price reclaimed the old 2021–22 range and is currently testing the mid-range. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/xKHWtfeYrwD-rD8aZ-29mPCWspz_wQvi_h2s2uTveMopEa8Fbgm-Pkhz4pVLWbqg21yo0lmSOIac9dpCUjoK142xGG4gsCSGBTY1R--wVjoOuhh6CWPLT9zbAcgnya-0F4O0M37JlItFJZzahA5VDHU" alt="">
</figure> 
One of the popular analysts, <a href="https://twitter.com/thescalpingpro/status/1733424920007512470" target="_blank" rel="noreferrer noopener nofollow">Mags</a>, presents the two probable scenarios, considering the above charts.&nbsp; 
<ul> 
 <li>The price continues to go higher and shoots up to $48,000 before experiencing a deeper retracement back to the range low</li> 
</ul> 
<ul> 
 <li>Secondly, the price has topped out locally at the mid-range and will start heading lower from here till $35,000 before the next leg up</li> 
</ul> 
The analyst believes the price may consolidate here with multiple retests before reaching $35,000 in monthly support. However, he also says that the overall trend is bullish and may offer a good buying opportunity.&nbsp; 
<blockquote class="wp-block-quote"> 
 “Whatever scenario plays out, the overall idea is bullish, any dips are opportunities for buying,” 
</blockquote>

Bitcoin Is Testing Critical Levels, While it May Soon Offer a Great Buying Opportunity!

CoinPedia News

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