Rally

Bitcoin

Bull Market

Rekt

As Bitcoin navigates through significant price changes, varying analyses from crypto analysts have painted a diverse picture of its short-term trajectory. 
A prominent crypto analyst, Ali, <a href="https://x.com/ali_charts/status/1791044603442757897" target="_blank" rel="noopener nofollow">identified</a> a sell signal on Bitcoin’s short-term charts using the TD Sequential indicator. 
According to Ali’s analysis, the TD Sequential indicator suggested that Bitcoin’s current uptrend might be losing momentum. This could potentially lead<a href="https://www.newsbtc.com/bitcoin-news/bitcoin-could-crash-below-55000-top-analyst-sounds-the-alarm/" target="_blank" rel="noopener ">&nbsp;to a correction</a> over the next one to four candlesticks, particularly noticeable on the four-hour chart. 
<blockquote class="twitter-tweet"> 
 The TD Sequential presents a sell signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Bitcoin</a> 4-hour chart, anticipating a one to four candlesticks correction for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$BTC</a>. <a href="https://t.co/OC9Clv0Tat" target="_blank" rel="noopener nofollow">pic.twitter.com/OC9Clv0Tat</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1791044603442757897?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">May 16, 2024</a>
</blockquote> 
<h2 id="diverging-bitcoin-views-from-top-crypto-analysts">Diverging Bitcoin Views From Top Crypto Analysts</h2> 
Contrasting this perspective, another prominent analyst, Rekt Capital, recently <a href="https://x.com/rektcapital/status/1790812076459319672" target="_blank" rel="noopener nofollow">provided</a> a more optimistic view. According to Rekt Capital, Bitcoin ended its downtrend in mid-April, breaking into an uptrend with its price surpassing <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-soaring-toward-84000-insights-from-glassnode-co-founders/" target="_blank" rel="noopener ">previous resistance levels</a>. 
This change has been marked by Bitcoin forming its first higher high since its drop to $56,000, as <a href="https://x.com/rektcapital/status/1791104145400730091" target="_blank" rel="noopener nofollow">highlighted</a> by Rekt Capital. This indicates a possible continuation of the <a href="https://www.newsbtc.com/news/is-the-crypto-winter-thawing-us-bitcoin-etfs-record-first-inflows-in-weeks-coinshares/" target="_blank" rel="noopener ">bull market</a> despite periodic market attempts to unsettle investors. 
The TD Sequential indicator’s sell signal comes as Bitcoin has shown a 7.6% increase over the past seven days, reaching a 24-hour high of $66,567 before retracing slightly to $65,592. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/amMUucwj/" alt="Bitcoin (BTC) price chart on TradingView" width="2770" height="1496"> 
Rekt Capital <a href="https://x.com/rektcapital/status/1789936849282117659?s=46&amp;t=nFu8G4mzc7hHOw0CCfHo3g" target="_blank" rel="noopener nofollow">noted</a> the significance of the $60,000 support level, suggesting that maintaining this level is crucial for further positive momentum. He remarked that the recent breakout to $66,000 is a testament to how quickly market sentiment can shift toward a bullish trend. 
The analyst <a href="https://x.com/rektcapital/status/1790815106080575663?s=46&amp;t=nFu8G4mzc7hHOw0CCfHo3g" target="_blank" rel="noopener nofollow">disclosed</a>: 
<blockquote>
 The Bitcoin Bull Market is not over. But time and time again, the market will try to shake you out of your positions before you are able to profit significantly from them.
</blockquote> 
<h2 id="insights-from-galaxy-ceo-on-btc-s-future-trends">Insights From Galaxy CEO On BTC’s Future Trends</h2> 
Meanwhile, Mike Novogratz of Galaxy Digital <a href="https://twitter.com/novogratz/status/1791085037447680200?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">commented</a> on the broader market trends, noting that the crypto sector is at a critical juncture where narratives are evolving, and the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-significant-adjustment-mining-difficulty-hits/" target="_blank" rel="noopener ">market landscape</a> could change rapidly, especially with impending regulatory developments in the US. 
Mike Novogratz further expanded on the macro view, suggesting that the next few months could be pivotal for the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-danger-nvt-golden-cross-warns/" target="_blank" rel="noopener ">crypto market</a> as it responds to new narratives and regulatory developments. 
<blockquote class="twitter-tweet"> 
 It’s been a fascinating week in crypto. Narratives are forming and odds are shifting. It’ll be interesting to watch the next few months play out, and even more interesting to watch the jump shift that’ll occur as soon as there’s regulatory clarity around crypto in the U.S.… <a href="https://t.co/t0g5rTIKjP" target="_blank" rel="noopener nofollow">pic.twitter.com/t0g5rTIKjP</a> 
 — Mike Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1791085037447680200?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">May 16, 2024</a>
</blockquote> 
He also recently <a href="https://www.bloomberg.com/news/articles/2024-05-14/galaxy-s-novogratz-says-bitcoin-to-trade-between-55-000-to-75-000-in-quarter" target="_blank" rel="noopener nofollow">predicted</a> that Bitcoin’s price will oscillate between $55,000 and $75,000 for some time, indicating a phase of consolidation before any major moves. 
Featured image from Unsplash, Chart from TradingView

Is Bitcoin’s Rally Over? Top Analysts Predict Imminent Price Corrections

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