The next Bitcoin target is $ 88,000.

A popular report says $ 88,000 is an easy target for BTC rates.

Bitcoin prices are rallying and continuing to decline after hitting new highs earlier this month. However, by expert standards the elimination will be soon, and Bitcoin's next goal is $ 88,000.

Price Bitcoin Prepared up

After peaking in November, some analysts continued to bet that Bitcoin prices would double before the end of the year. Analyst Plan B estimates that Bitcoin will soon hit $ 98,000 and has set a target of $ 135,000 in December.

Indeed, as more and more BTC exchanges have been approved in the United States, the value of Bitcoin increases further, increasing the legitimacy of Bitcoin as investment capital.

Morgan Stanley seems to be the best about Bitcoin because American safety trading crowd (Sec) has shared the comparison. The company has found more than 260 million gayscale BTC believes from June until September year, which is worth $ 130 million.

As Bitcoin becomes more accepted by more and more people, the price of Bitcoin appears to be moving in a broad upward direction. In effect, this makes the cryptocurrency an increase in the calendar equivalent channel structure.

The chart shows that the price of Bitcoin may move to the upper channel balance at $ 87,912, which is similar to the Fibonacci expansion at 161.8%.

However, before the price of Bitcoin reaches this target, BTC will face its first resistance at the 61.8% Fibonacci retracement level of $ 58,045. Once that rally broke, Bitcoin's next target price was $ 61,168, a combination of 21 and 50 day simple moving averages (SMAs).

The rise was also seen at the Fibonacci retracement level of $ 63,062, 78.6%, following the equivalent of the frontier moving average of $ 66,433, which corresponds to the resistance shown by the strong reversal indicator. (MRI). ). Even the 127.2% Fibonacci retracement level could be a trigger for Bitcoin to continue its bullish trend.

MRI also released the following signals on November 23, indicating that the price of Bitcoin will reverse this period of slowdown.

However, if the price of Bitcoin does not recover, a higher sell-off could push BTC to the 50% correction level of $ 54,520, which is below the line, at the intersection of the SMA and IRM support of 100 days. . These areas should provide support for Bitcoin.