Bitcoin Market Evaluation

Bitcoin (BTC) price is trading at a lower level compared to yesterday and is currently finding buyers at $67,400. Positive employment data from the US was important for investors. However, the question of whether Bitcoin’s decline has ended is still waiting to be answered. Current Status of Bitcoin Bitcoin is facing the selling pressure of months at the $69,000 level and is currently unable to reclaim this level. Analyst Daan Crypto Trades points out that Bitcoin has been trading near the highest level of the 2021 cycle for almost four weeks. Historically, Bitcoin price movements can show consolidation for 1-2 months near the cycle peak. It is emphasized that the pullbacks are positive for the uptrend and that Bitcoin’s consolidation at lower levels is seen as a process of gathering strength for new highs. Some developments in the market can trigger current price movements. Bitcoin Price Comments and Expectations There […]

Bitcoin Market Evaluation

Bitcoin (BTC) price is trading at a lower level compared to yesterday and is currently finding buyers at $67,400. Positive employment data from the US was important for investors. However, the question of whether Bitcoin’s decline has ended is still waiting to be answered.

Current Status of Bitcoin

Bitcoin is facing the selling pressure of months at the $69,000 level and is currently unable to reclaim this level. Analyst Daan Crypto Trades points out that Bitcoin has been trading near the highest level of the 2021 cycle for almost four weeks. Historically, Bitcoin price movements can show consolidation for 1-2 months near the cycle peak.

It is emphasized that the pullbacks are positive for the uptrend and that Bitcoin’s consolidation at lower levels is seen as a process of gathering strength for new highs. Some developments in the market can trigger current price movements.

Bitcoin Price Comments and Expectations

There is a balance between buyers and sellers and there is no clear winner in the market at the moment. The fact that the price does not experience a new breakout and the symmetrical triangle seen in technical analysis indicates an upcoming trend.

Useful Information for the Reader

A sudden movement in Bitcoin price is expected.
Levels of $60,000 and $73,777 should be watched as breakout points.
If the symmetrical triangle breaks downwards, there is a possibility of a decline to $54,298.
If the triangle breaks upwards, the target price of $80,000 can be aimed.

According to experts’ analysis, the 20-day smooth EMA and RSI data do not currently show a clear superiority of the bulls. This indicates that volatility could be experienced in BTC and other cryptocurrencies depending on which way the triangle breaks.

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how to buy crypto?
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