Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Price Controversy: Is BTC Heading Lower or On the Verge of a Surge?

Bitcoin Price Controversy: Is BTC Heading Lower or On the Verge of a Surge?

CryptodnesCryptodnes2024/09/14 16:00
By:Cryptodnes

Bitcoin sentiment has shifted slightly towards the positive after a recent dip, with the cryptocurrency testing the $60,000 mark. Despite this, technical analyst Alan Santana has voiced a bearish outlook, suggesting that Bitcoin’s price chart indicates a downward trend.

Santana, known for his technical analysis on TradingView, reiterated his short position in a September 14 update, emphasizing his belief that the market will decline based on current chart patterns.

Santana’s analysis highlights a history of market misjudgment, where widespread optimism did not align with technical indicators. He has opened short positions at $56,000, $58,000, and $60,000, setting a stop-loss at $66,000 and targeting a drop to as low as $39,000 for maximum profit.

READ MORE:
U.S. Debt Crisis May Worsen Robert Kiyosaki Advocates Bitcoin Over Dollar

While Santana maintains a bearish stance, other analysts present a more optimistic view for Bitcoin’s long-term prospects. For instance, Credible Crypto has noted a bullish trend and is preparing for a significant upward movement. Similarly, AI predictions suggest Bitcoin could reach $90,000 by the end of 2024, a forecast also supported by Cryptorphic, which anticipates a price of $93,000.

The market remains volatile with contrasting opinions, reflecting its unpredictable nature. As Santana cautions, leveraged trading carries risks and requires careful strategy, underscoring the necessity for stop-loss measures in uncertain conditions.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!