Crypto analyst Jordan predicted that Bitcoin price it could be $80,000 in the short term. The analyst pointed to the February movement that could start the rally for crypto to lead.
Bitcoin Price Eyes Rally to $80,000 Based on This Trend
In a X postJordan predicted that the price of Bitcoin could reach $ 80,000, citing a trend that began in February. This was around the time BTC made a new one in the low area about $60,000. Since then, the leading crypto has rebounded to $76,000. The analyst noted that BTC jumped every time its price tested support below $60,000.
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Jordan said that if the price of Bitcoin can have this level, then there can be a rise between $ 80,000 to $ 84,000 CME gap. He added that it is interesting that the price has remained above the support groups though the US-Iran war. Crypto Profit analyst also indicated that BTC could rally above $80,000 in the short term.
In a X posthe said he will look to enter new shorts between $79,000 and $84,000 if the price of Bitcoin returns to that area. He also said that he sees a large medium-term opportunity for BTC to reach the region. However, he added that, due to the situation with the war in Iran, he does not think that the reward is worth going for a long time and expects that BTC will gather above $ 80,000.
Doctor Profit reiterated that the price of Bitcoin is in a bear market and that the price has not yet dropped. Therefore, he believes that placing short orders between $79,000 and $84,000 is the safest bet with a target of at least $50,000.
Not the Time to Buy BTC
Crypto analyst CrypFlow said that this is not the time to buy BTC, since the price of Bitcoin has not yet dropped. He said 2-month stochastic RSI A bullish cross is one indicator that has always signaled a buying opportunity. The expert explained that under this model, the pressure returns below 20, the sentiment turns negative, and the bullish cross confirms the change.
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CrypFlow also said that the cross was the origin of the cow runs in the lines of 2015, 2019, and 2023. However, the cross has not yet occurred this time. He said that the stochastic RSI is resetting again and the setup is building, but the signal has not started, indicating that the price of Bitcoin may still fall.
At the time of writing, the price of Bitcoin is trading at around $66,800, in the last 24 hours, according to data from CoinMarketCap.
Image taken from Pixabay, chart from Tradingview.com
