Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, discussed the future of Bitcoin’s price in his latest report.
The analyst notes that the Bitcoin price is currently stuck in the $65,000 to $75,000 range, but remains optimistic about a bullish outlook.
According to the analyst, a clean re-emergence of the $75,000 price in BTC is necessary for confirmation of the bullish scenario. On the other hand, the analyst added that the bullish scenario would lose its validity in the short term if the BTC price were to fall below $65,000.
According to il Capo, the most likely scenario at the moment is a short squeeze that could still occur between $80,000 and $90,000. Additionally, the analyst added that target prices could be even higher if a short squeeze takes place.
Bitcoin is currently trading at $68,956 at the time of writing, having fallen by 2.72% in the last 24 hours. Over the past week, BTC has remained relatively flat, down only 0.4%.
*This is not investment advice.
