Bitcoin’s recent recovery from a price low of 74,400 USD suggests a potential upward trend. Analysts indicate that maintaining a price above 81,500 USD is crucial for a continued rise, as reduced losses among sellers reflect a shift in market sentiment.
The Bollinger Bands indicator hints at a favorable W-shaped price pattern for Bitcoin. If the pattern is confirmed, it could see prices soar toward 88,800 USD, with a target price of 106,000 USD in view. This reflects hopeful signals for Bitcoin traders.
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