Nebraskangooner predicts a bottoming-out phase for Bitcoin

Bitcoin is up more than 1% in the last 24 hours, so many crypto enthusiasts are curious about the potential uptrend of BTC in the next few months. Nebraskangooner is a U.S.-based Bitcoin trader who is famous for its BTC price prediction. Nebraska is active on Twitter and predicted an uptrend of Bitcoin after breaking the resistance of the last nine months.

In the last few days, Bitcoin has been hovering around $24,000 amidst various geopolitical events, like Hong Kong’s decision to include crypto providers in the same field as traditional financial ventures. Bitcoin has observed selling pressure on the resistance level. 

The crypto market saw a bearish phase in the second quarter of 2021. During the period, Nebraskangooner gave a few thoughts regarding Bitcoin’s bottom and its uptrend. As Bitcoin has consolidated in the last nine months, Nebraskangooner again predicted bullish momentum for Bitcoin on Twitter. 

Instant reversal zone could have been the bottom?

— Nebraskangooner (@Nebraskangooner) February 20, 2023

Interestingly, $22K was the previous resistance, so it has worked as a support in the last week, and the BTC price got an immediate recovery on the price chart. According to Nebraskangooner, this immediate recovery can signify a long-term bottom formation on the Bitcoin price chart. He also explained the breakout looks like the end of the bear phase if BTC follows the pattern of the 2015 and 2019 reversal patterns. He wonders “how similar this is looking now after the breakout.” 

Overall, based on the market sentiment and algorithmic BTC price prediction, we can forecast the following: 

Based on our research and analysis, Bitcoin will hit a maximum level of $35K with a low of $18K. That means there is a chance of a downward correction this year. That could be an ideal time for long-term accumulation. 

The U.S. Fed will reduce the interest rate hike that will boost the crypto markets and stock markets. As a result, we can expect a price surge that will lead BTC up to $55K in the next two years, with a low of around $30K. That means if you accumulate coins around the current price, you will gain more than 100% return in the next two years. 

BTC will continue the momentum even in 2025 with an estimated resistance of $63K, with support around $39K. However, it is tough to predict the next five years because of government regulations and many other global factors, especially for cryptocurrencies which are still new than stock markets. 

Most Bitcoin traders and industry experts are optimistic about the potential uptrend, especially in BTC, which has an all-time high of $69,045. Per experts’ sentiment, once BTC sustains the $25k mark, it will register tremendous growth. 

There was a negative sentiment in the last year, but we can expect a bottoming out in blue chip cryptocurrencies and a long-term capital appreciation in the next two years.