Why Bitcoin Price May Shoot to a Record High of $69,000

The focus of this analysis is Bitcoin (BTC), the cryptocurrency that revolutionized the world of finance. We focus on BTC price prediction for the near future with insights from our premium environment.

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Technical analysis of Bitcoin price (BTC).

Bitcoin has been on an upward trend over the past few days. The analysts at Crypto Insiders have therefore shared a new update in the premium environment. In it they said the following:

“Since recent lows, we have seen a pattern that suggests the price is likely to continue rising. Known as the 12345 Elliott Wave Pattern, this pattern shows price moving in waves over time.

We are currently in the middle of a strong bullish wave, the third wave, which we expect to complete shortly at around the current price. After that, we expect a small decline as a kind of market pause before the price rises again. This decline could push the price to around $52,000, where consolidation could occur.

We see this consolidation phase as a springboard for further upside moves that will complete the internal structure of the current Elliott Wave cycle. Looking to the horizon, we have set the all-time high of $69,000 as our ultimate target.”

Date of analysis: February 27th. Link to trading view:

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