JPMorgan analysts have just released one of the boldest forecasts yet, projecting that Bitcoin could climb to $170,000 in the next six to twelve months — a bullish Bitcoin price prediction that implies a 67% gain from current levels of $101,000.
This follows the recent deleveraging in perpetual futures markets, triggered by record liquidations on October 10 and November 3.
On-chain data shows whales have been buying heavily during this dip, suggesting smart money views this correction as a rare buying opportunity.
Source: CryptoQuantBitcoin Price Prediction: If Support Holds, BTC Could Hit New Highs Within Weeks
Bitcoin’s recent pullback has brought the price down to the critical $100,000 support zone after failing to hold the $120,000 level.
The current support zone could act as a launchpad for a fresh rally, especially if buyers defend this area and regain control in the coming sessions.
Technical indicators suggest that bullish momentum may resume if the price holds above this support, with a potential path toward new all-time highs by year-end.
However, if this $100,000 floor breaks, the next support lies around $90,000, which could delay recovery and lead to extended consolidation.
The Relative Strength Index (RSI) shows that Bitcoin is nearing oversold conditions, adding to the case for a short-term bounce, but confirmation is still needed.
Traders should watch for a reclaim of $106,000 and rising volumes to confirm a trend reversal.
Bitcoin price prediction scenarios remain bullish if the $100,000 support holds.
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The post Bitcoin Price Prediction: JPMorgan Predicts $170K BTC Within 6 Months – Is Wall Street Buying the Dip? appeared first on Cryptonews.
