Bitcoin Analysts Set $137,000 Target Amid Ongoing Correction

Bitcoin's price has recently retraced below $105,000 after peaking over $111,000 in May. This decline is viewed differently by analysts, with some seeing it as a weakening trend and others as a bullish correction.

MasterAnanda's Analysis

Predicts Bitcoin could reach $137,000, lower than the speculated $200,000 target this cycle.
Identifies $88,888.88 as an ideal retracement level for a higher low, above the previous bottom of $74,500.
Claims Bitcoin will not trade below $80,000 again.
Maintains that holding above $100,000 indicates a minor retracement rather than a breakdown.
A break below $100,000 would signal a significant shift in Bitcoin's upward trajectory.

RLinda's Support Levels

Focuses on $102,000 and $101,400 as crucial support levels for Bitcoin.
Considers the recent price action a liquidity-driven correction rather than a bullish trend reversal.
Notes that failure to hold these support levels could lead to further declines.

Both analysts agree that the current correction does not signify a complete collapse. Bitcoin is trading at $104,290, having increased by 0.5% in the last 24 hours.