Bitcoin Market Evaluation

Bitcoin (BTC) price is currently trading at a lower level than yesterday and is finding buyers at the $67,400 level at the time of writing. Positive employment data from the United States was crucial for investors. However, the question of whether Bitcoin’s decline has ended is still awaiting an answer. Current Status of Bitcoin Bitcoin continues to face selling pressure at the $69,000 level and is unable to regain this level for now. Analyst Daan Crypto Trades indicates that Bitcoin has been trading at the highest level of the 2021 cycle for almost four weeks. Historically, Bitcoin price movements can show consolidation periods of 1-2 months near cycle peaks. It is emphasized that pullbacks are positive for the uptrend and that Bitcoin is consolidating at lower levels by avoiding deep drops. This is interpreted as a process of gathering strength for new highs. Some developments in the market can trigger […]

Bitcoin Market Evaluation

Bitcoin (BTC) price is currently trading at a lower level than yesterday and is finding buyers at the $67,400 level at the time of writing. Positive employment data from the United States was crucial for investors. However, the question of whether Bitcoin’s decline has ended is still awaiting an answer.

Current Status of Bitcoin

Bitcoin continues to face selling pressure at the $69,000 level and is unable to regain this level for now. Analyst Daan Crypto Trades indicates that Bitcoin has been trading at the highest level of the 2021 cycle for almost four weeks. Historically, Bitcoin price movements can show consolidation periods of 1-2 months near cycle peaks.

It is emphasized that pullbacks are positive for the uptrend and that Bitcoin is consolidating at lower levels by avoiding deep drops. This is interpreted as a process of gathering strength for new highs. Some developments in the market can trigger current price movements.

Bitcoin Price Commentary and Expectations

There is a balance between buyers and sellers and there is currently no clear winner in the market. The absence of a new breakout and the symmetrical triangle seen in technical analysis indicate an imminent trend.

Useful Information for Readers

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

According to analysts, the 20-day EMA and RSI data does not currently show clear superiority of the bulls. Depending on which direction the triangle breaks, volatility may occur in BTC and other cryptocurrencies.

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how to buy crypto?
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