With a small jump in the Bitcoin price, many bullish predictions roll out within the crypto space. Currently, the star crypto is yet again facing rejection at the $38,000 levels as before. And hence as the previous weekends, the current weekend is also expected to drain out the profits accumulated. However, the constant rejections at $39,000 or close to these levels may be a history in the near future.
The BTC trend reversal may be fast approaching as the market sentiments are turning a little positive. And on the other hand, the on-chain analysis also points out a significant flip at the earliest. In the upcoming days, BTC could find some strong support levels in the next 6 weeks. And quickly rebound finding a good opportunity.
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One of the popular analysts believes the star crypto is due for a massive upswing very soon, maybe in the second half of 2022. The analyst has specified a date range within which the star crypto may go parabolic or switch to distribution from the accumulation phase. As per the prediction, the Bitcoin price may find the support levels in the next 6 weeks. And eventually go parabolic in between October 01, 2022, to June 31, 2023, and hit the higher target soon.
The price target for the asset is between $140K to $180K during this period. While in an extended bull run the BTC price mayhit $240K while the lower target still remains above $100K at $120K. Therefore, regardless of the current market trend, Bitcoin price, reaching highs is inevitable, yet the higher target which is currently around the ATH may be elevated soon.
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Source: https://coinpedia.org/price-analysis/huge-bitcoin-update-btc-price-to-hit-140k-in-q4-2022/