Bitcoin Sunday is a day to watch out for, as analysts have shared their short-term predictions for the Bitcoin price. Some experts believe that the price could plummet to as low as $50,000, while others are more optimistic, predicting a potential jump.
John Bollinger, the creator of Bollinger Bands, a commonly used technical indicator, is among the optimists. He pointed out a two-bar reversal pattern in the lower Bollinger Band, suggesting a potential rise in the Bitcoin price. According to Bollinger, if this pattern plays out, there is a chance that BTC could test its all-time high of $73,000.
Keith Alan, co-founder of Material Indicators, also weighed in with his predictions, stating that the technical indicators on the BTC daily chart indicate an upward trend. He warned that if Bitcoin ends June below $56,500, the overall upward trend could be at risk.
At the time of writing, Bitcoin is trading at $61,222. It’s important to note that this information is not investment advice. If you’re interested in investing in over 300 cryptocurrencies, you can register with Binance exchange and receive a 20% commission discount. Be sure to follow their Telegram and Twitter accounts for exclusive news, analytics, and on-chain data.
