Bitcoin Price Predictions: Top Traders Forecast Accumulation and Potential Surge to $100K

Bitcoin Will Keep Accumulating Below $70K Until This Crucial Month, Top Trader Predicts

He added breaking the $67,000 resistance could signal a bullish trend; awaiting positive news to cement the level as support. Bitcoin's BTC/USD fluctuation between the $64,000 and $67,000 range over the past days prompted traders to predict more accumulation. What Happened: Crypto trader Emperor on Tuesday outlined key levels to watch and suggested strategies for potential investors. He stated, "Initially people assumed we will dump from $63,500 but that's where we bought the absolute Bottom of the Dump." The trader also noted that the $66,000 level was broken multiple times and then retested as support. He believes that the market will spend considerable time at this level and accumulate. He added that the $67,000+ level, which was already broken, is no longer a strong resistance. However, he mentions that some positive news is needed to break it and establish it as a support. He concluded with his strategy, "Best Bet right now is to be ready to Buy the levels on Dips you feel comfortable with and Accumulate till September." This strategy could be valuable for investors looking to capitalize on Bitcoin's price fluctuations. Also Read: Bitcoin To $100K? Top Trader Sees Consolidation First, Marks 'Key Levels And Triggers For Buying And Selling' Why It Matters: IntoTheBlock data shows a 75% increase in large transaction volumes and a 24% spike in daily active addresses. Transactions greater than $100,000 also increased from 5,287 to 8,307. Crypto trader Scient, in his X post, highlighted that from June 19 to July 19, around $4 billion in BTC has been sold in the market from known sources. However, some hidden counterparties have been doing heavy accumulation between $50,000 and $60,000. He concluded that this is a "clear sign of strength." Additionally, another trader indicated two levels that he is looking at for booking a long position on Bitcoin. The first one is $63,800 - $63,080 and the second one at $60,700. What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19. Read Next: Pro-Bitcoin Senator Cynthia Lummis Stirs Crypto Community With 'Big Things Are In Store This Week' Message This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image: Shutterstock Market News and Data brought to you by Benzinga APIs

Bitcoin To $100K? Top Trader Sees Consolidation First, Marks 'Key Levels And Triggers For Buying And Selling'

While he remains bullish for the market as a whole, he sees consolidation first. Crypto trader Scient shared a comprehensive analysis of Bitcoin's BTC/USD key levels and triggers for buying and selling, offering insights for both current holders and potential investors. What Happened: His analysis includes: A "Sell Zone" between $71,470 and $73,250 A "Range-Mid support/resistance" from $65,300 to $66,500 Two "Buy Zones" from $60,800 to $59,000 and $57,256 to $55,888, respectively. A "One-Day Buyside Fair Value Gap (FVG)" between $62,250 and $60,050 and a "1D 200EMA support" at $58,807. The trader noted that the ideal case scenario is squeezing into the sell zone followed by consolidation between the Sell Zone and Range-mid for a few weeks before breaking higher towards $100,000. Also Read: Shorting BTC Before Trump's Bitcoin Conference Speech Is A Dangerous Game: 10x Research Why It Matters: Scient's analysis provides a detailed roadmap for Bitcoin investors. The analysis suggests that if Bitcoin consolidates above the mid-range support/resistance level, there is a higher chance of a squeeze towards all-time high levels. However, if Bitcoin starts closing below the range-mid S/R zone, it may offer an opportunity to buy at a lower price. Scient also point out that if Bitcoin reaches the "Sell Zone," it is likely to face significant sell pressure without an immediate break to a new all-time high. This could be a good area for investors to make a profit or go short. On the other hand, if Bitcoin falls below "Buy Zone 1," it may reach "Buy Zone 2," which Scient describes as a "must-hold area" due to its significance as the macro diagonal trend support from 2019. While Scient leans more towards a bullish outlook considering the market strength, he emphasizes the importance of having a plan for either case and the triggers to play in these scenarios. What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19. Read Next: Pro-Bitcoin Senator Cynthia Lummis Stirs Crypto Community With 'Big Things Are In Store This Week' Message This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image: Shutterstock Market News and Data brought to you by Benzinga APIs