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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Bitcoin Price Crash To $100,000 Or Rally To $122,000? Analyst Shows Game Plan For BTC

Scott Matherson
Scott Matherson
1 month ago
3 mins read
Bitcoin

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Crypto analyst Mark Cullen has laid out the game plan for the Bitcoin price amid the flagship crypto’s choppy price action. Based on his analysis, BTC could either crash to $100,000 or rally to $122,000, close to its current all-time high (ATH) of $123,000. 

The Game Plan For The Bitcoin Price

In an X post, Mark Cullen shared what he described as the ‘Bitcoin game plan.’ He noted that BTC is filling out the inefficient area between the two previous weekly ranges. The analyst further remarked that the next move will be determined by how the Bitcoin price breaks out or breaks down from this range. 

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Bitcoin

Bitcoin Price Crash To $100,000 Or Rally To $122,000? Analyst Shows Game Plan For BTC

1 month ago

Cullen stated that a break above $116,000 and holding above the previous range low could help the Bitcoin price build a bullish structure for a bigger squeeze to new ATHs later this month. His accompanying chart showed that BTC could first rally to around $122,000, close to its current ATH, before it breaks above to new highs. 

Bitcoin
Source: Mark Cullen on X

On the other hand, there is also the possibility of the Bitcoin price declining further. The analyst stated BTC is likely to crash to $100,000 if it loses the weekend low at around $111,000 and fails to attempt a reclaim of $112,000. Cullen declared that critical weeks’ price action is ahead for the flagship crypto, seeing as it is at a crossroads. 

It is worth mentioning that BitMEX co-founder Arthur Hayes is one of those who believe that the Bitcoin price could still crash to $100,000. Hayes recently predicted that BTC will retest this level while ETH retests $3,000. He alluded to the tariffs as one of the reasons crypto prices would drop this low. The crypto founder also suggests that there is currently no available liquidity to boost the prices of these assets. The last time that Bitcoin was at $100,000 was towards the end of June, before it then went on to reach new all-time highs in July.

BTC Could Still Drop To As Low As $95k

Crypto analyst Ali Martinez has indicated that the Bitcoin price could still drop to as low as 95,000. In an X post, he noted that the last two times the weekly RSI dropped below the 14 SMA, BTC corrected by 20% to 30%. Therefore, he remarked that the flagship crypto could fall to $95,000 if history repeats itself. 

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Satoshimeter Shows Where Bitcoin Price Is In This Cycle

2 months ago

In the meantime, the $112,000 level is the level to watch for the Bitcoin price. Titan of Crypto described this level as the line in the sand,” as BTC continues to reject the bearish Fair Value Gap (FVG) at around $114,000.

At the time of writing, the Bitcoin price is trading at around $114,000, down in the last 24 hours, according to data from CoinMarketCap.

Bitcoin
BTC trading at $114,214 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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