Bitcoin Price Prediction: Choppy Weeks Ahead?
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Bitcoin's price is expected to remain volatile in the coming weeks, potentially retesting its range lows. After briefly hitting a one-week low of $102,000 on Thursday, fueled by the Iran-Israel conflict, BTC attempted to reclaim support around $104,000-$105,000. Analysts like Daan Crypto Trades observe a choppy trading environment, similar to the pre-summer period, suggesting that the range high remains crucial for a sustained upward move. Holding the range high is seen as essential for bulls to maintain momentum; otherwise, a return to lower levels within the range is anticipated. Daan warns against impulsive trading during this volatile period. Meanwhile, analyst Carl Runefelt points to a potential double top pattern on the 4-hour chart. Failure to bounce from the descending resistance could lead to a drop into the mid-zone of the range, potentially retesting lows around $90,000-$92,000. Merlijn The Trader notes the presence of CME gaps at $92,500 and $97,300, suggesting a potential discount entry for investors, as Bitcoin's structure resembles that of last year, hinting at a possible significant rally. The comparison to Bitcoin's performance in 2024, where a retest of descending resistance preceded a rally, suggests a similar pattern could play out in 2025. Overall, the outlook for Bitcoin in the short term is uncertain, with the potential for both significant gains and losses depending on whether key support and resistance levels hold.
