Bitcoin (BTC) Forming the First Local Top Suggests Any Dip Is A Buying Opportunity

On late Saturday, March 13, Bitcoin (BTC) topped its all-time high above $61,500 levels thereby entering the price discovery zone. However, it has registered partial retracement but is still holding above $60K strongly. At press time, BTC is trading at a price of $60,326 with a market cap of $1.123 trillion.
Looking at Bitcoin’s historical chart patterns and previous bull runs, Bitcoin (BTC) seems to be forming its first local top above $60K. comparing to its previous bull runs of 2013 and 2017, it is clear that BTC might see some partial retracement from the current levels. However, any dip in the BTC price presents a buying opportunity.

Just released Uncharted #5, hope you all enjoy!
We might reach a #Bitcoin local top like the first peak in 2013 soon, that then sets us up for the global top at the end of 2021 or beginning of 2022.
Dive in:
— Jan & Yann (@Negentropic_) March 14, 2021

As Coingape reported, the BTC greed/euphoria zone hasn’t peaked which means that Bitcoin isn’t over-heated even at its new all-time high. Despite Bitcoin (BTC) surging more than 100% year-to-date, many market analysts are still giving higher targets. Popular Bitcoin supporter and evangelist Max Keiser thinks that the BTC price can touch $77,000 in the short term and $220,000 by the year-end. Other analysts have already given a $100K target for BTC by the end of 2021.
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