Bitcoin Analyst Predicts Possible Rise to $110,000 Amid Market Volatility

The price of Bitcoin is hovering around $95,000 after some strength earlier in the weekend. Market analyst Burak Kesmeci suggests Bitcoin may rebound, potentially reaching $110,000, though a drop to $85,000 is also possible.

Kesmeci analyzed the Bitcoin fear (VIX) score, which indicates market volatility and fear. The VIX score has remained above 16.50 for two days, suggesting a potential buy opportunity.
He cautioned that this signal doesn't guarantee a rebound; it might persist if the VIX indicator continues declining.
The Relative Strength Index (RSI) for Bitcoin fell to 30, entering oversold territory. Kesmeci noted little excitement unless RSI shows positive divergence.
The Fixed Range Volume Profile (FRVP) shows a volume gap between $95,000 and $85,000. A close below $95,000 could lead to a sharp drop to $85,000.
Kesmeci highlighted that holding above $95,000 could indicate volume building, with potential for a rally toward $110,000.

Currently, Bitcoin is priced around $95,076, showing minimal movement in the last day.