Bitcoin to $60K or $140K? Traders at odds over where BTC price goes next

Bitcoin’s recent price movement has caused a split among traders, with one side predicting a significant decline to around $60,000, echoing price patterns from 2021 that preceded a crash. Analysts point to a series of market developments mirrored from the previous peak, warning of a potential bearish reversal. The breakdown below key support levels has raised concerns about a decline, particularly towards the $60,000-$62,000 range, where historical resistance aligns with the 200-week EMA. Conversely, the bullish camp argues that Bitcoin is set to find support at around $104,000, with potential for a recovery leading to $140,000. They view the current downturn as a healthy correction rather than the start of a bear market. Some analysts even suggest a continuation of the upward trend before a final peak. Ultimately, the market is characterized by differing opinions on the future direction of Bitcoin, highlighting the volatility and uncertainty prevalent in cryptocurrency trading.

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