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The soccer price for the Lion and Player is soft. I hate each of my arcu lorem, ultricy kids, or ullamcorper football.
The story is somewhat the same for Bitcoin prices over the past week, drifting even further from the most recent history of $111,814. Friday, June 6th, Premier cryptocurrency has fallen It is heading towards the $101,000 level, reflecting the rise in market volatility over the past few days.
Bitcoin prices quickly recovered from this sudden recession, but there are still real concerns about the performance of market leaders since reaching record value. However, the new indicators suggest that BTC prices may still have time to run to new highs.
Analysts predict BTC’s four-month opportunity
A recent post on the X platform is based on Crypto expert Joao Wedson It was revealed There may still be some opportunity in the Bitcoin market. This observation was based on a model and was accurate to predict the highest ever price of the world’s largest cryptocurrency by market capitalization.
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This revelation is based on the Max Intersect SMA model (The Blue Line), which accurately identifies the top of past Bitcoin cycles. According to a post by Wedson, the top forecast model for this cycle suggests that BTC prices could potentially increase for around four months, regardless of volatility and market shakeout.
As can be seen in the chart above, each time Max crosses SMA (simple moving average) hits, the price of Bitcoin reaches its current cycle peak Previous cycle top. In the 2021 cycle, the top-level forecast model reached its 2018 high of around $19,000 in November 2021, culminating at its then high of $69,000.
So, when this maximum crossing SMA reaches exactly $69,000, it is the top price for the last cycle representing the peak of this cycle. Wedson also argued that the model is highly reliable as it is backed up by 200 tested algorithms.
This top-level prediction model is still a little far from $69,000, so Bitcoin prices could be a few months away from their peak.
Bitcoin price at a glance
As mentioned earlier, the price of BTC appears to be struggling after hitting its current all-time high of over $110,000. This week’s performance must have tested investor patience as flagship cryptocurrencies are trading primarily within the consolidation range.
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According to Coingecko data, BTC prices have risen by just 0.2% in the past seven days. At the time of writing, Bitcoin is valued at around $104,400, reflecting a price increase of over 2% over the last 24 hours.
ISTOCK featured images, TradingView chart
