BTC Sinks to $107,000, Can the Pioneer Asset Recover to New Highs After Wiping Out Liquidity Clus...

The pioneer cryptocurrency price sinks to $,107,000

Analysts wonder, can the pioneer asset recover to new highs.

Bitcoin will likely close CME Gaps and wipeout liquidity clusters before seeing a reversal.

The pioneer crypto asset, Bitcoin (BTC), has had a horrific end to August and a ghastly start to September. The month began with the price of BTC sinking to the $107,000 price range. Analysts wonder, can the pioneer asset recover to new highs after wiping out liquidity clusters? Answers to this and many more questions come in Doctor Profit’s latest weekly report, known for his many accurate predictions, traders are eager to see what he expects

Can the Pioneer Asser Recover New Highs?

Doctor Profit, a reputed silver-tongued analyst, known for his many accurate predictions, shares his latest weekly report. The analyst begins by confirming that the latest BTC price dip was not at all unexpected, as in his last report, he made it clear that Bitcoin’s price would be falling to much lower targets in the coming days ahead. Specifically, he expects the price of BTC to sink to $90,000 and $95,000 in September as a result of rate cuts and to close a CME Gap

As we can see from the post above, Doctor Profir predicted a rate cut for September, an announcement that will likely arrive shortly after mid-September. He believes this news is already priced in, and eventually, the crypto market will dip even further after the news, allowing BTC to close a CME Gap and wipe out several liquidity clusters, before moving back up to higher prices and new ATH targets

Based on the post above, the analyst shares a chart highlighting huge liquidity clusters for Bitcoin, especially around the $105,000 to $108,000 prices. The analyst says that every small pump is getting fully retraced, meaning the momentum for BTC price is towards the downside. He concludes by saying that until these liquidity clusters are taken out, a reversal is highly unlikely for Bitcoin.

Another analyst says that while many expect BTC to enter a bear market, the asset is showing no signs of a macro distribution. Instead, he says that what we’re seeing for Bitcoin is very different, that the asset is consolidating within a macro bullish structure, forming a megaphone pattern. With this observation, the analyst concludes that Bitcoin (BTC) is preparing for an epic rally.

Lastly, according to Doctor Profit’s report, the crypto market is in denial and is yet to really slip into the fear state, which will allow BTC to close its CME Gap in the $90,000 - $95,000 price range. Like he mentioned in previous reports, his final outcome is that BTC will eventually recover to 6-digit prices and go on to hit much higher ATH prices in Q4 of 2024, finally triggering altseason’s arrival as well.