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Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, discussed the future of Bitcoin’s price in his latest report.
The analyst notes that the Bitcoin price is currently stuck in the $65,000 to $75,000 range, but remains optimistic about a bullish outlook.
According to the analyst, a clean re-emergence of the $75,000 price in $BTC is necessary for confirmation of the bullish scenario. On the other hand, the analyst added that the bullish scenario would lose its validity in the short term if the $BTC price were to fall below $65,000.
According to il Capo, the most likely scenario at the moment is a short squeeze that could still occur between $80,000 and $90,000. Additionally, the analyst added that target prices could be even higher if a short squeeze takes place.
Bitcoin is currently trading at $68,956 at the time of writing, having fallen by 2.72% in the last 24 hours. Over the past week, $BTC has remained relatively flat, down only 0.4%.
*This is not investment advice.
coincodex.com
news.bitcoin.com
coingape.com
coindesk.com
