Crypto Champion Captain Faibik Predicts a Bitcoin Boost of $100,000 by the End of the Month

Despite the general market decline and the prevailing gloom, an optimistic perspective is blossoming on the bleak landscape. Captain Faibik, a seasoned connoisseur and avid cryptocurrency champion, lays out a promising scenario for Bitcoin’s (BTC) impending price, predicting that the digital asset could escalate to an all-time high before the month completes its run.

Captain Faibik’s insights, the product of his deep knowledge of cryptocurrency operations and a keen acumen for discerning market fluctuations, explore the likelihood of a significant short-term rise in Bitcoin. The expert identifies Bitcoin at a crucial crossroads as it retests the daily Moving Average 100 (MA100) level after an earlier rebound.

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Historical patterns show that Bitcoin traditionally finds robust support at the 100MA spot. If BTC recovers from this point, Captain Faibik foresees an exponential upside in the coming days, contemplating that Bitcoin could even rise to a new high within the span of a month.

This idea is underlined by BTC’s behavior on the daily time frame, which increases the prediction of an upside. Captain Faibik claims that on the daily horizon, BTC remains above the primary trendline and within the boundaries of the green block indicated on his chart, paving the way for a rapid Bitcoin revival.

Captain Faibik further reports that the daily Relative Strength Index (RSI) is hovering below a trend line that has been stagnant for several months. While this could indicate a temporary decline in positive momentum, the expert finds this indicative of an impending rise in Bitcoin’s value. Given BTC’s continued trajectory within the bullish flag pattern, Captain Faibik expects a recovery towards $68,000 in the near future.

Still, the most ambitious goal suggested by Captain Faibik is the $100,000 prize. Recently, the expert identified fundamental forces that could push Bitcoin’s value to this figure. Captain Faibik highlights that the bullish faction coincidentally strengthened the weekly Exponential Moving Average (EMA) 10 after the Descending Channel breakout in October 2017. As a result, he places a $100,000 price tag on the digital asset’s next target.

Empathy is in order, however, as Bitcoin has suffered a setback of more than 13% in the past week, with the current price hovering around $57,701. Moreover, the market capitalization has fallen by more than 6% in the past day, despite an increase in trading volume of approximately 61%. Despite fluctuating fortunes, the future plot for Bitcoin, as laid out by Captain Faibik, foresees a lucrative destiny.