The Bitcoin price experienced a significant downturn this week leading up to the FOMC meeting on Wednesday. In what appeared as a surprise to many, the digital asset saw a sharp 8% decline, causing its value to drop below $57,000, marking its lowest point in two months. However, a specific crypto analyst foresaw this crash and has now indicated where the Bitcoin price could be headed next.
Crypto Analyst’s Prediction of Bitcoin Fall
One of the few analysts, RLinda, accurately predicted the recent Bitcoin price drop. On April 27, in a post on TradingView website when Bitcoin was trading above $63,000, she anticipated an impending crash.
Based on RLinda’s analysis of cryptocurrency accumulation and liquidity trends, she identified crucial price levels. Clearly outlined in her chart, her prediction came true as the price fell below $57,000.
This scenario unfolded over the following week with Bitcoin successfully dropping below $57,000 before rebounding. The bulls managed to maintain support above $56,000, acting as a support level for the digital asset.
Projection for Bitcoin’s Future Price Movement
Now that RLinda’s initial prediction has materialized, the likelihood of her next analysis phase coming to fruition is high. Despite the recent drop, she remains optimistic about Bitcoin’s price, forecasting a recovery.
With the support above $56,000 in place, RLinda anticipates a bounce-back above $60,000. She identified $59,313, $61,447, and $64,545 as key levels that bulls need to surpass to sustain an upward trend.
Barring minor fluctuations, the analyst foresees Bitcoin eventually surpassing its all-time high above $73,000, indicating a potential over 30% surge in price that could trigger a broader crypto market recovery concurrently.
Apart from RLinda, there are bullish sentiments from another analyst, alfamooz, who has also predicted a price rally, envisioning Bitcoin reaching as high as $100,000.
However, as of the current moment, bearish sentiments persist regarding the Bitcoin price, which is currently trading at $57,500, marking a 7% drop in the last day and an 11% decline over the past seven days.
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