Bitcoin’s Future Depends on Upcoming Price Movements, Analyst Warns

A crypto analyst, Dr. Cat, has warned that Bitcoin is at a crucial inflection point, which could dictate its trajectory for the upcoming months. He suggests two potential price outcomes: a rise to $179,000 or a drop to $79,000.

Key Points from Analysis

A daily high between June 25 and 27 could indicate a lower high, leading to a subsequent lower low.
A lower low would invalidate the weekly cycle, suggesting no bottom before mid-July to mid-August.
The earliest potential bottom is projected between July 14 and August 17.
Bitcoin is currently making a bearish retest of the weekly Tenkan Sen, with a recent attempt to reclaim it failing.
Key support exists at $93.2K (weekly Kijun Sen); failure here may trigger deeper declines towards $75K.
A breakout above $110.6K after June 27 would invalidate the current bearish structure.
Market movements should be assessed in context rather than just price direction.
Dr. Cat emphasizes the importance of distinguishing between neutral and bullish charts to avoid losses.

At the time of reporting, Bitcoin was trading at $107,356.