Bitcoin Analysts See $74,000-$75,000 Dip Within Bullish Scenarios

Bitcoin (BTC) could dip to $74,000-$75,000 before recovering toward $90,000 in Ted Pillows’ worst-case scenario, while EGRAG CRYPTO’s chart analysis treats that pullback as compatible with a bullish pattern.

On Oct. 24, Pillows said Bitcoin’s recent pattern resembled the months after its November 2022 cycle low. He pointed to a summer consolidation, a later rally and a correction, then focused on the 16th week after the earlier low, when Bitcoin fell during the U.S. banking crisis. Pillows said the current cycle is approaching a comparable point.

Under that comparison, Pillows said Bitcoin could bottom in the $74,000-$75,000 range in a worst-case scenario, then reverse and recover toward $90,000.

EGRAG CRYPTO’s daily-chart analysis describes a pattern of consolidation followed by sharp advances and says a third instance may be forming as Bitcoin consolidates near its bull-market support band. The analysis identifies $82,900 as a level to clear, followed by the $86,000-$87,000 range as a more important breakout area.

EGRAG’s chart lists $98,400 and $114,900 as higher targets. It also says a move down to $74,000-$75,000 would not by itself undermine the pattern.