Bitcoin's Price Surge Takes a Break: Possibility of a Dip to $113,000 Paving Way for the Next Ascend?
News Article: Stockmoney Lizards Predict Key Support Zones for Bitcoin's Next Potential Breakout
In the ever-evolving world of cryptocurrency, Bitcoin continues to dominate the scene, with its current trading price at $118,235. Despite a minor dip of 0.51% in the last 24 hours and 0.21% over the past week, the market remains steady, with profit-taking happening but far from reaching extreme levels.
According to the analysis of the Stockmoney Lizards, two key support zones are expected to play a crucial role in Bitcoin's next potential breakout. These zones, located at $113,000 and $97,000, are significant for several reasons.
The $113K zone, being the closest fair value gap to the current price, is seen as a likely immediate support level. This fair value gap acts as a magnet, attracting large limit orders and deep-pocket buyers, making it a potential staging ground for the next move.
The $97K zone, on the other hand, overlaps with the 0.382 Fibonacci retracement, a key technical support level often watched by traders. This convergence of the fair value gap and Fibonacci retracement level makes the $97K zone a strong candidate for Bitcoin's next potential support.
It's worth noting that a prior gap around $81K has already been filled earlier this year and thus is not considered a near-term support.
Following a bounce from these support levels, Stockmoney Lizards projects that Bitcoin could break out further and potentially reach targets of $140,000 in the short term and $200,000 by the end of 2025. This aligns with the channel breakout and technical setups they describe.
The Bitcoin Heat Macro Phase is currently at 44%, indicating a neutral but healthy market structure. This suggests that while the market is cooling, it is not turning bearish, often leading to accumulation.
In summary, the key support zones for Bitcoin’s expected breakout, according to Stockmoney Lizards, are the fair value gaps at $113,000 and $97,000, supported by Fibonacci retracement confluences. These zones act as staging grounds for the next ascending move toward $140K–$200K targets. As always, it's essential to remember that while analyses like this can provide valuable insights, they should not be taken as financial advice.
[1] Stockmoney Lizards, "Bitcoin Prediction: $140,000 Short-Term, $200,000 by 2025", [link], accessed March 16, 2022.
[2] Stockmoney Lizards, "Key Support Zones for Bitcoin's Next Potential Breakout", [link], accessed March 16, 2022.
Bitcoin's projected breakout may find significant support at the key zones of $113,000 and $97,000, according to Stockmoney Lizards' analysis, as these areas serve as potential staging grounds following the bounce from these levels. The potential ascension could reach targets of $140,000 in the short term and $200,000 by 2025, aligning with the channel breakout and technical setups suggested by the Stockmoney Lizards, making these zones crucial for investors focused on Bitcoin's finance and technology sector.
