Summary
TLDR: Analyst says if Bitcoin stays above $59,000, it could reach $100,000, but a drop below $59,000 could lead to a correction to $45,000-50,000.
Key Points
1. Bitcoin’s ability to hold above a certain level will determine whether it continues towards a fresh record high and potentially reaches $100,000.
2. If there is more downside pressure and bitcoin breaks below $59,000, it could delay the bullish outlook and lead to a more significant correction towards the $45,000-50,000 range.
3. The current price level of bitcoin is crucial in determining its short-term trajectory and potential for reaching new highs.