Analyst Predicts Bitcoin to Hit $68K After Successfully Calling $65K Breakout Last Week

• Bitcoin holds strong at $65K; traders await confirmation above key support to hit the $68K target.
• Two potential paths for Bitcoin: holding the golden line leads to a quick move toward $68K, or a retest of the EMA50 is required.
• Traders see 65% chance of a BTC retracement to the EMA50 before reclaiming the golden line and continuing to $68K.

Last week, Bitcoin surged to $65,000, a move that had been accurately predicted by DrProfitCrypto. The analyst’s prediction came after Bitcoin’s price was previously observed at $58,000. This rapid rise has since led to a new focus on the next potential target of $68,000 by the end of the week. 

Analyzing Bitcoin’s Movement

Bitcoin’s recent upward momentum has been driven by key technical indicators, particularly the golden line on the 6-hour chart. This line has become a focal point for traders, representing a significant support level. 

Notably, Bitcoin not only touched this line but also broke above it before retesting it, signaling a bullish breakout. The critical factor now is whether Bitcoin can hold above this level to continue its ascent towards $68,000. The strength of this support level is vital, as it determines how quickly the price may reach the next target.

Two Possible Scenarios to Watch

There are two potential paths for Bitcoin to reach $68,000. The first scenario hinges on staying above the golden line, which would likely result in a swift move towards the target. As long as this level holds, the bullish momentum remains strong. However, if Bitcoin breaks below the line, the second scenario comes into play. 

In this case, Bitcoin may retest the daily EMA50 level before bouncing back to reclaim the golden line, ultimately resuming its upward trend. While the probability of testing the EMA50 stands at 65%, there is still a 35% chance of Bitcoin continuing directly towards $68,000.

Current Strategy and Market Performance

Since the Monday crash, traders have followed a successful strategy of adding long positions and spot trades, with notable success in assets like $FET and $RENDER. $FET has surged 60%, further validating the strategy employed by DrProfitCrypto. 

Despite these gains, the focus remains on Bitcoin’s price action, as the market awaits for either of the two scenarios to unfold. For now, the attention stays fixed on Bitcoin’s ability to hold above key support levels and advance toward the anticipated $68,000 target.