Bitcoin Price Predicted to Reach $140,000 or Drop to $67,000

Bitcoin remains steady, trading around $94,600 after a bearish trend last week. The cryptocurrency briefly dipped below this level on January 11 but rebounded to $94,870.

Future Projections for Bitcoin

Analyst Ali Martinez outlined potential price movements for Bitcoin:

Possible rise to $140,000
Potential decline to $67,000

This analysis is based on two chart patterns:

The bull pennant indicates a bullish continuation
The head-and-shoulders pattern suggests a bearish reversal

Currently, Bitcoin has not yet breached the neckline of the head-and-shoulders pattern at approximately $93,000. A breakdown could lead to a drop to $67,000. Conversely, holding above the neckline and breaking out of the bull pennant may result in a rally toward $140,000.

Current Market Status

Bitcoin's current price is around $94,600, with a near 4% decrease over the past week according to CoinGecko data.

Bitcoin price