Greed

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Bitcoin

<p>The post <a rel="nofollow" href="https://coinpedia.org/bitcoin/bitcoin-price-prediction-btc-price-to-hit-48k-level-by-september-heres-why/">Bitcoin Price Prediction: BTC Price To Hit $48K Level By September, Here’s Why?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a recent analysis, a seasoned trader and analyst, known as @Yodaskk on Twitter, shared a bullish midterm prediction for Bitcoin (BTC), suggesting significant price growth. This forecast is supported by three key indicators that indicate a favorable outlook for the leading cryptocurrency.</p> 
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   <p lang="en" dir="ltr">Depending on the speed of this rally, end of summer or september, we could have a pretty big confluence of:<br>-61.8% fib retracement of the entire bear market<br>– 2022 Yearly Open<br>– *possible* Livermore accumulation cylinder trendline<br><br>all meeting in the 44444-48650 area<br><br>If this… <a href="https://t.co/xbLhX7hkmU">pic.twitter.com/xbLhX7hkmU</a></p>— Coiner-Yadox (@Yodaskk) <a href="https://twitter.com/Yodaskk/status/1672520058684207105?ref_src=twsrc%5Etfw">June 24, 2023</a>
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<p>According to @Yodaskk, Bitcoin’s crucial price levels are expected to be reached in the fourth quarter of 2023, specifically in the range of $44,444 to $48,650. The first indicator supporting this prediction is the Fibonacci retracement, a commonly used tool among traders. When applied to Bitcoin’s historical price movements, the 61.8% level emerges as a strong support level for bullish activity, aligning with @Yodaskk’s projected “interesting” zone.</p> 
<p>Furthermore, the analyst examined Bitcoin’s performance over the past six months using technical analysis indicators, which further reinforce the potential for a significant price surge in the midterm.</p> 
<p>@Yodaskk also highlighted the Livermore Accumulation Cylinder trend line on larger time frames, although it is not a definitive indicator. This suggests the potential for bullish progress in Bitcoin’s price trajectory. However, it is important to note that a sharp correction of around 30% may follow the projected surge, potentially retracing Bitcoin back to its current levels.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$btc</a> <a href="https://twitter.com/search?q=%24btcusd&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$btcusd</a><br><br>OK, here is the plan:<br><br>-Break of 9 months accumulation range into<br><br>– Rally to 44444 – 48259 area (2022 YO &amp; 61.8% fib retracement of bear market confluence) w/ big volatility, everyone disbelief, market keep shorting, spot led rally<br><br>– ABC 30% to 40% correction to… <a href="https://t.co/vq3wdlKiZS">pic.twitter.com/vq3wdlKiZS</a></p>— Coiner-Yadox (@Yodaskk) <a href="https://twitter.com/Yodaskk/status/1636695219604209664?ref_src=twsrc%5Etfw">March 17, 2023</a>
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<p>Recently, Bitcoin reached its yearly high in the broader market context, briefly touching $31,400 on major spot trading platforms. This surge was driven by the optimism surrounding multiple Bitcoin exchange-traded fund (ETF) filings from prominent asset management companies. </p> 
<p>Notably, top institutional investors like BlackRock, Invesco, WisdomTree, and Valkyrie have all submitted applications to the Securities and Exchange Commission (SEC), creating euphoria within the cryptocurrency market.</p> 
<p>This positive sentiment is reflected in the Crypto Fear and Greed Index, which has experienced its most significant spike since mid-March. Currently, at 65/100, the index has transitioned from the “Extreme Fear” zone to the “Greed” zone in just nine days, indicating a growing optimism among market participants.</p> 
<p>As September approaches, investors and enthusiasts will closely monitor Bitcoin’s price movements to see if the bullish predictions hold true.</p>

Bitcoin Price Prediction: BTC Price To Hit $48K Level By September, Here’s Why?

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