Bitcoin Price Forecast: Critical Levels and Future Projections

Crypto analyst Titan of Crypto predicts a potential breakout in Bitcoin’s price, highlighting $85,700 as a critical level for bullish continuation towards $87,000. Despite positive indicators such as RSI bullish divergence and MACD crossover, macroeconomic factors may pose risks to this momentum. Current trading price is approximately $83,600, down over 2% within 24 hours.

Crypto analyst Titan of Crypto has indicated that a breakout in Bitcoin’s price may be imminent, particularly emphasising the threshold of $85,700. This level is crucial because surpassing it could propel Bitcoin towards a bullish target of $87,000. Titan noted that the Relative Strength Index (RSI) has demonstrated a bullish divergence and highlighted that BTC has already met two significant price targets.

Moreover, a daily close above $85,700 is anticipated to enhance the likelihood of achieving the $87,000 mark shortly thereafter. The analyst pointed out a recent bullish crossover in the Moving Average Convergence Divergence (MACD) on the three-day chart, suggesting a potential momentum shift towards upward movement for Bitcoin.

Previously, Titan forecasted that Bitcoin could surge to a new all-time high (ATH) of $137,000 by mid-year, coinciding with a bullish pennant formation observed on BTC’s daily chart. He maintains that if this pattern materialises, it could lead to the anticipated bullish rally.

In a related note, analyst Colin has also asserted a bullish outlook for Bitcoin, attributing this to the trends in global M2 supply, projecting a potential breakout towards a new ATH of $144,000 as early as May.

Despite positive sentiments among analysts, potential macroeconomic pressures could hinder Bitcoin’s breakout. Following a peak of $86,000 on April 15, Bitcoin faced a setback due to news of impending EU tariffs on US imports. Concurrently, escalating trade tensions with China could also impact Bitcoin’s upward momentum.

Currently, Bitcoin’s price stands around $83,600, reflecting a decrease of over 2% in the last 24 hours, as reported by CoinMarketCap.

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