Don't Give Up Just Yet! BTC Top Signal Not Yet, According to Latest Analysis

Bitcoin Drops Sharply Then Recovers: Investors Still Have 4 Months of Opportunity?

Bitcoin price fluctuated strongly last week , falling from a historical peak of $111,814 to nearly $101,000 on June 6, causing market sentiment to become unstable.

However, shortly after, the price quickly recovered to over $104,000 , up more than 2% in the last 24 hours .

Despite signs of market slowdown, a new analysis model is opening up hope that Bitcoin still has room to increase in price in the near future.

SMA model reveals new bullish cycle
Cryptocurrency expert Joao Wedson said that the Max Intersect SMA model – which has accurately predicted previous Bitcoin price peaks – is showing that BTC has about 4 months left before reaching its cycle peak .

In the 2021 cycle, the model was correct in predicting a $69,000 peak based on the 2018 peak of $19,000.

Currently, this SMA has yet to touch $69,000 – a sign that the top of this cycle is yet to come .

Wedson believes in this model because it is backed by 200 verified algorithms , giving high reliability to long-term investors.

The market is moving sideways, investors need to be patient
Data from CoinGecko shows that BTC price has increased by only 0.2% over the past 7 days , mostly moving sideways in the $101,000–$105,000 range.

This poses a challenge for those expecting Bitcoin to hit new highs in the short term.

However, with the forecast from the SMA model and the long-term bullish momentum, many analysts believe that the market is still in the accumulation phase before the next rally .