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<p>The post <a href="https://coinpedia.org/news/bitcoin-on-the-brink-analyst-predicts-new-all-time-highs-if-this-resistance-is-broken/">Bitcoin on the Brink: Analyst Predicts New All-Time Highs If This Resistance is Broken</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cryptocurrency markets are on edge as Bitcoin hovers around the $61,500 level, with analysts predicting potential volatility during Fed Chair Jerome Powell’s upcoming speech. Titan of Crypto, a prominent crypto trader, predicts that if <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*18ydzlq*_ga*MzA4NDkzOTIxLjE3MTU2NzQ2MzM.*_ga_RE1GG3FGQW*MTcxNTY3NDYzMi4xLjEuMTcxNTY4ODE1NS4wLjAuNjk3MDQ2Nzg4" target="_blank" rel="noreferrer noopener">Bitcoin</a> breaks above $61,500, it could surge significantly to reach $110,848.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-next-target-1-10-848">Bitcoin’s Next Target: $1,10,848</h2> 
<p>Amid ongoing market fluctuations, crypto trader Titan of Crypto has pointed to a critical level for Bitcoin investors to monitor closely. According to chart analysis, Bitcoin’s price at $61,500 is under scrutiny due to observed deviations that suggest a potential breakout.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> $61,500 is the level to watch. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Expect volatility in the markets around today's Powell speech.<br><br>In any case remember it's wiser to wait for <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> daily candle close and a confirmation with the following one before jumping to conclusion. <a href="https://t.co/VpcLjeQ59U">pic.twitter.com/VpcLjeQ59U</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1790307074460590546?ref_src=twsrc%5Etfw">May 14, 2024</a>
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<p>Titan of Crypto forecasts that if Bitcoin manages to surpass the $61,500 level, we could <a href="https://coinpedia.org/news/bitcoin-forms-golden-cross-is-bull-run-coming/" target="_blank" rel="noreferrer noopener">witness a surge in the price</a>, potentially reaching $110,848. It’s essential to observe Bitcoin’s daily candle close and subsequent price action to gauge the strength of any potential upward movement.</p> 
<h3 class="wp-block-heading" id="h-jerome-powell-s-speech-nbsp">Jerome Powell’s Speech&nbsp;</h3> 
<p>This forecast comes amidst broader market uncertainty, with investors closely monitoring Federal Reserve <a href="https://coinpedia.org/news/crucial-week-ahead-for-crypto-market-what-you-need-to-know/" target="_blank" rel="noreferrer noopener">Chair Jerome Powell’s speech</a> today. Powell’s remarks are expected to introduce volatility in the financial markets, potentially impacting Bitcoin and other cryptocurrencies.</p> 
<h2 class="wp-block-heading" id="h-testing-key-support">Testing Key Support</h2> 
<p>In a recent tweet, cryptocurrency analyst Michaël van de Poppe highlighted pivotal moments ahead for Bitcoin, emphasizing critical price levels that will dictate its next move. Meanwhile, bitcoin is currently testing support around $60.5-61K, and breaking above $63K is crucial for a potential rally to its all-time high.</p> 
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   <p lang="en" dir="ltr">Crucial decisions approaching for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.<br><br>The range low at $60.5-61K is still holding up for Bitcoin, through which breaking $63K is the next barrier for a new run towards the all-time high.<br><br>If $60.5K is lost, I think we'll see $52-55K as the next support zone. <a href="https://t.co/VoErZ1WVQv">pic.twitter.com/VoErZ1WVQv</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1790295340983185504?ref_src=twsrc%5Etfw">May 14, 2024</a>
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<p>Further, Van de Poppe suggests that a successful breach of the $63K barrier could signal a bullish surge, potentially propelling Bitcoin towards its previous all-time high. This scenario hinges on <a href="https://coinpedia.org/price-analysis/bitcoins-bull-run-coming-top-analyst-predicts-76k-target-amid-falling-wedge-formation/" target="_blank" rel="noreferrer noopener">Bitcoin’s ability to surpass $63K</a> in the coming sessions.</p> 
<h3 class="wp-block-heading" id="h-if-fail-to-breach-60-5k">IF Fail To Breach $60.5K</h3> 
<p>However, Van de Poppe also warns that if Bitcoin loses the $60.5K support level, the cryptocurrency could face a downward move towards the $52-55K support zone. This scenario underscores the importance of monitoring key levels for potential market direction.</p> 
<p>Also Check Out The: <a href="https://coinpedia.org/price-analysis/chatgpt-4-0-predicts-a-massive-jump-in-floki-and-pepe-this-week/">ChatGPT 4.0 Predicts A Massive Jump In FLOKI and PEPE This Week!</a></p>

Bitcoin on the Brink: Analyst Predicts New All-Time Highs If This Resistance is Broken

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