9 hour ago
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Bitcoin Price Could Drop to $78,000 or Rise to $120,850
Bitcoin's price recently fell below $90,000, sparking debates about its next direction. Analyst MarcPMarkets outlines potential scenarios:
- The $93,500 level is crucial; a failure to reclaim this point indicates bearish tendencies.
- If Bitcoin drops below $88,000, it may fall another $10,000, targeting $78,000 as the next support.
- A bullish scenario arises if Bitcoin breaks the $95,000 resistance, with targets at $105,581, $113,213, and $120,850.
Upcoming events that could impact Bitcoin include:
- The FOMC meeting, which may influence market sentiment depending on the Fed's stance.
- The end of quantitative tightening in December, potentially leading to bullish trends due to increased market liquidity.
