The post Is Bitcoin Going to Crash After Hitting $100K? appeared on BitcoinEthereumNews.com.

Bitcoin has cleared major resistance levels at $70,000, $85,000, and $99,000. The exponential moving averages (EMAs) signal a strong bullish trend, with the 50-day EMA positioned above the 100- and 200-day lines. However, the Relative Strength Index (RSI) has reached 82, indicating overbought conditions that could lead to a short-term price correction. Despite the risks, Bitcoin trading volumes remain strong, showing confidence from both retail and institutional investors. But Schiff’s warnings about MicroStrategy’s reliance on leverage raise questions about how long this rally can be sustained. If institutional buying slows, Bitcoin’s price could experience sharp corrections. Curious about what’s next? Read Bitcoin Price Prediction 2025 and explore how high BTC could soar as it solidifies its place in the global financial ecosystem! Analysts Expectations for Bitcoin Price Action Brandt’s prediction of a potential Bitcoin selloff is rooted in the idea that investors may look to lock in profits after the recent rally. As Bitcoin approaches the psychological milestone of $100,000, many market participants might be tempted to sell, triggering a pullback. Brandt suggests that this could present an opportunity for investors to reenter the market at a lower price, ultimately benefiting from further gains down the line. What I had in mind here is the possibility that bulls will sell their BTC sub $100,00 thinking they will buy a correction that does not come, then turn bearish if Bitcoin goes to $120,000 believing price must come down https://t.co/2BdLh8iocc — Peter Brandt (@PeterLBrandt) November 22, 2024 Despite the anticipation of this correction, Brandt’s sentiment remains optimistic, stating that the market’s overall direction is upward. He also predicted that Bitcoin could soar to $120,000, rejecting the idea of a significant drop shortly. Expert Sentiment on Bitcoin’s Short-Term Outlook Brandt isn’t the only expert to weigh in on Bitcoin’s potential for a pullback.…

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Filed under: News - @ November 24, 2024 2:04 am