[Analysis] "Bitcoin Successfully Rebounds in Reaccumulation Phase… Could Rise to $120,000"
Uk Jin
Summary
- Bitcoin has successfully rebounded, with potential to rise to $120,000.
- Weslad analyzed that Bitcoin is following an 'AB=CD' pattern.
- $100,000 is maintained as a psychological support level, indicating the correction phase is over.
Bitcoin (BTC) has achieved a rebound during the correction phase, with analysis suggesting it could reach $120,000 upon further rise.
According to NewsBTC on the 28th (Korean time), cryptocurrency analyst Weslad stated, "Bitcoin is currently following an 'AB=CD' pattern," indicating a potential rise to $122,000.
Weslad explained, "Bitcoin is currently trading in an upward cycle, with $100,000 maintained as a psychological support level," adding, "The correction phase is already over, and there is a high possibility of entering a substantial growth stage."
Meanwhile, as of 9:22 AM, Bitcoin is trading at $108,871 on Binance, down 0.42% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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