Scaramucci Sees $100K Bitcoin, Warns of Protracted Sideways Movement

Bitcoin's price has been stuck in a tight volatility band for five years, according to Anthony Scaramucci. He believes that #bitcoin will eventually move back over $100k but warns it may grind sideways for a while as investors lose patience.

The current price of $64,868.19 is testing the upper Bollinger resistance at $65,021.82, and the Relative Strength Index (RSI) has reached 72.2, indicating an overbought condition.

As a result, Scaramucci suggests that a healthy retracement to the 50-Exponential Moving Average (EMA) support at $63,796.28 is likely before further continuation of the bullish trend.