Bitcoin Set to Reach $135K, Predicts CryptoQuant Founder
- CryptoQuants Ki Young Ju rviss Bitcoin forcst to $135,000, citing ETF cpitl inflows.
- Dspit wrnings on ovrlvrgd positions, Bitcoin whls show confidnc by continuing to ccumult.
- Bitcoins pric fcs ky rsistnc nr $93,265; brkout could push it toward $100,000 or higher.
Bitcoin, currntly trding t $90,551, hs cpturd ttntion with bold forcst from CryptoQuant foundr Ki Young Ju. Th nlyst hs rvisd his rlir prdictions, projcting potntil ciling of $135,000 for Bitcoin. This projction considrs cpitl inflows from xchng-trdd funds nd products, supporting cryptocurrncys pric trjctory.
Along with th optimistic outlook, Ju lso issud wrning to trdrs bout ovrlvrgd positions, urging cution whil mintining long-trm bullish stnc. Pls not tht this dosnt mn w rnt gtting corrctions. As I mntiond rlir, th futurs prp mrkt is ovrlvrgd. Sty long-trm bullish, but b cutious with lvrg if your trdr, Ju mphsizd.
His nlysis rvld tht th BTC-USDt prptul mrkt ws ovrlvrgd by pproximtly 2.7 tims mor thn rlir this yr. This ovr-lvrging hs th potntil to triggr cscding liquidtions, lding to short-trm pric pullbcks.
Bitcoin Whales Maintain Market Confidence
Dspit ths concrns, th brodr sntimnt mong Bitcoin invstors rmins optimistic. CryptoQuant contributor Darkfost highlightd tht whls, or lrg invstors, continu ccumulting BTC vn s th pric hovrs round $90,000. H ddd, Most r holding, which is sign of confidnc in th mrkt.
On th othr hnd, contributor Percival obsrvd diffrnt trnd mong subst of long-trm Bitcoin holdrs. Som invstors who hv hld thir positions for ovr 155 dys r rportdly tking profits t th $90,000 lvl. Howvr, Percival clrifid tht this dos not rflct th ctions of ll long-trm holdrs, mny of whom r still witing for highr pric lvls to rliz mor substntil gins.
Through Rlizd Pric UTXO Bnds, w s tht long-trm holdrs r not looking t $90K. Bitcoin hs to rch highr lvls nd prics to rliz profits of mor thn 10x, h notd.
Key Levels Shaping Bitcoins Path
Bitcoins short-trm movmnt is strongly influncd by criticl pric lvls. Th currnt pric of $90,551 plcs it within rsistnc zon btwn $92,000 nd $93,265. If buyrs push pst $93,265, th nxt trgt lis t $100,000. Should this psychologicl brrir b brchd, th pric my climb furthr to $113,331.
Convrsly, filur to sustin momntum bov $85,000 could spll troubl for bulls. A dip blow this lvl might triggr dscnt towrd th 20-dy xponntil moving vrg (EMA) of $80,791, with furthr losss potntilly pulling th pric to $70,000, s prdictd by CryptoQuant nlyst BroVirtul.
Th 4-hour chrt dpicts indcision, with th cryptocurrncy forming symmtricl tringl pttrn. A brkout bov th tringl would signl bullish dominnc, pving th wy for surg to $100,000. Convrsly, brkdown blow th tringl could triggr short-trm profit-tking, lding to potntil drop to $85,000 or vn $80,000.
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Read more: https://www.tronweekly.com/bitcoin-set-to-reach-135k/
Text source: TronWeekly
