Bitcoin Price Prediction: Bullish and Bearish Scenarios Explained

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Bitcoin’s price has stayed mostly quiet this weekend, showing no big moves in either direction. The market is still moving sideways, with prices stuck within a narrow range. While there’s been a little bit of downward pressure, it hasn’t been enough to trigger any big changes.

Some experts have wondered if Bitcoin’s current pattern might turn into a triangle, but there’s no clear sign of that happening. Triangles are rare patterns in the market, and it’s too early to say if this will develop into one.

Bearish Update:

For now, the focus remains on a correction phase that began after Bitcoin’s May high. The price has been pulling back since then, and it’s expected to possibly head lower before finding strong support. The key areas to watch are around $99,200 to $92,800. There’s even a chance it could dip as low as $81,340, which is considered an important support level. If Bitcoin breaks below that, it could signal the end of the bull market.

Bullish Update:

On the other hand, if Bitcoin holds above this zone, the long-term outlook remains positive. Once this correction ends, Bitcoin could target a move towards $130,000, and if market conditions improve, it might even rally higher, possibly up to $190,000.

Looking at shorter timeframes, the price is currently holding above minor support levels. Over the weekend, it’s been expected that Bitcoin might see a small bounce or move sideways before heading lower again. A break above $108,822 could mean the market is turning more bullish in the short term, but for now, there’s no clear sign of that happening.

In summary, Bitcoin is still in a correction phase with no confirmed breakdown or breakout. As long as it stays above key support levels, the larger uptrend remains intact.