Bitcoin price continues its movement in an upward trend and has reached an all-time high of $123,000. The price is at its highs and could rise another 10–15%. However, buying cryptocurrency right now is quite risky, as the bullish market may turn bearish in the near future. Currently, entry points for opening short positions should be considered.
From a technical analysis perspective, the $123,000 level may be the peak of the uptrend, after which a trend reversal to the downside may occur.
Possible Scenarios:
The price is already at its maximum, and a trend reversal is likely in the near term (possibly with liquidity being taken from the highs – a “repeak”).
The price continues to rise toward approximately $130,000–$135,000, after which a reversal to the downside is expected.
Scenario Realization