Bitcoin struggles to reclaim higher targets. The analyst predicts $94,000 as the next pump target. Another expert states that $97,000 is also a possibility. A new week opens in the month of O
A new week opens in the month of October, allowing BTC to trade in the $83,000 price range, while the price of ETH trades in the $2,500 price range. This has led most experts to believe that the price correction phase is complete despite the fact that Bitcoin struggles to reclaim higher targets. Among the many reputable analysts in the space, one known as Doctor Profit goes on to declare that the next pump target from here lies at $94,000.
The silver-tongued analyst, Doctor Profit, known for his many accurate predictions about crypto market prices so far, goes on to share what to expect next in his weekly market report. Most recently, the analyst's last few predictions was his accurately calling the bear market to have ended in August and the price of BTC to run up as high as the $88,000 price range. From there, he called for the price of BTC to dip as low as $79,000.
Last week, the price of BTC dipped as low as the $80,300 price range, which he determined to be close enough. Thus, he closed all his short trades from the $88,000 price range and went on to accumulate more BTC in the $80,000 price range and in his most recent report, goes on to reveal what bull target he expects to see next for the pioneer crypto asset. Specifically, he expects $94,000 to be hit next.
https://twitter.com/DrProfitCrypto/status/2109325655695409457
As we can see from the post above, Doctor Profit shares a detailed weekly market report where he confirms that Bitcoin’s latest correction has been delivered and that his focus has now shifted to the next leg up. To highlight, he reminds traders how he highlighted the daily RSI bearish divergence as his most important warning, alongside MACD/PPO, and MFI divergences, while ADX showed weakening trend strength.
Those were his reasons behind the correction, but now, he expects BTC to rally to $94,000. To specify, he believes this correction is setting up the next leg of the bull market. To reach $94,000, Bitcoin needs to show spot demand at $86,000 instead of distribution, and this time he thinks we will get the accumulation between $86,000 - $89,000 prices instead of distribution and that’s where resistance becomes support.
https://twitter.com/mrofwallstreet/status/2109250244487876910Similarly, another analyst goes on to state his expectations for the next leg up phase for BTC price to have begun. Interestingly, he says as long as the $80,000 - $82,000 support holds, Bitcoin has the capability to not only surge to $93,000, but even to go as high as the $97,000 price range. The line to watch is the large amount of short positions opened above the $87,000 resistance level.
