Bitcoin Market Evaluation

Bitcoin (BTC) price is trading at a lower level compared to yesterday and currently finds buyers at the $67,400 level. Positive employment data from the US was important for investors. However, the question of whether the decline in Bitcoin has come to an end is still unanswered. Current Situation of Bitcoin Bitcoin is facing pressure from sellers at the $69,000 level and is currently unable to reclaim that level. Analyst Daan Crypto Trades indicates that Bitcoin has been trading at the highest level of the 2021 cycle for the past four weeks. Historically, Bitcoin price movements can show a period of consolidation for 1-2 months near cycle peaks. It is emphasized that pullbacks are positive for the uptrend and that Bitcoin has been consolidating at low levels by avoiding deep declines. 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 trading at a lower level compared to yesterday and currently finds buyers at the $67,400 level. Positive employment data from the US was important for investors. However, the question of whether the decline in Bitcoin has come to an end is still unanswered.

Current Situation of Bitcoin

Bitcoin is facing pressure from sellers at the $69,000 level and is currently unable to reclaim that level. Analyst Daan Crypto Trades indicates that Bitcoin has been trading at the highest level of the 2021 cycle for the past four weeks. Historically, Bitcoin price movements can show a period of consolidation for 1-2 months near cycle peaks.

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

Bitcoin Price Analysis and Expectations

There is a balance between buyers and sellers, and there is currently no clear winner in the market. The fact that the price does not undergo a new breakout and the symmetrical triangle seen in technical analysis indicate an imminent trend.

Useful Information for Readers

A sudden movement is expected in Bitcoin price.
Levels of $60,000 and $73,777 should be monitored 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 price could target $80,000.

According to analysts’ analysis, 20-day straight EMA and RSI data do not currently show clear superiority of the bulls. This signals potential volatility in BTC and other cryptocurrencies depending on which way the triangle breaks.

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how to buy crypto?
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