- Bitcoin needs to reclaim and hold $78,000 for a rally to $90,000.
- A fall could take the price of BTC to $74,000.
- The lowest the correction could take BTC is to $71,000.
As a new week begins, crypto traders and analysts look towards the pioneer crypto asset, Bitcoin (BTC) to watch its latest price activity. Over the previous week, the price of BTC has been moving sideways in a slightly low price range, leading experts to show concern. Presently, it is clear that Bitcoin needs to reclaim and hold $78,000 for a rally to $90,000. However, a fall could lead to a small correction to $74,000.
Bitcoin Needs to Reclaim and Hold $78,000 for a Rally to $90,000
He then went on to accumulate BTC up to the $64,000 price range and declared the end of the bear market. His next call for a pump to the $80,000 price range also came too and now he believes BTC will pump to $88,000 next and can only dip as far as $71,000.
As we can see from the post above, this popular trader and analyst seems to be expecting similar moves from BTC. In detail, he says in the post that by monitoring the BTC price chart, he believes a slight dip may occur if BTC fails to hold the $78,000 price range, but the dip won’t go deeper than $74,000. In addition, he says that the crypto market is currently at range low and altcoins are showing some interesting signs that they want to proceed again.
BTC Could Correct to as Low as $74,000
Thus, he reiterates that BTC needs to reclaim $78,000, and once that happens, the price of BTC might be in for the next rally towards $90,000 over the next few weeks. Adding on to the bullish narrative, Doctor Profit shares his latest weekly Bitcoin market report, exploring what’s next for Bitcoin and the crypto space. As we can see from the post below, he goes into great detail.
September 15 is an exciting day for the crypto space as the CLARITY Act will see a 60-vote procedural hurdle to advance consideration, not final approval of the law. Overall, it needs 60 votes to pass, turning the market extremely bullish if it passes. Meanwhile, institutional developments continue, adding to the bullish narrative. These include Nasdaq announcing an agreement to invest $100 million in Payward, Circle’s September 16 plan to launch Arc public mainnet, and more.
He concludes saying $71,000 remains his strongest support reference, while $82,500 needs to break before the next bull target at $88,000. Thus, Bitcoin first needs to reclaim the MA50 Weekly and establish strength above it. Then the $82,500 – $83,000 region remains the major breakout area in his framework, where he expects the bull market to start. Overall, he remains bullish.
