Bitcoin

Bull Flag

Rekt

<p>The post <a href="https://coinpedia.org/price-analysis/will-bitcoin-hit-ath-this-week-analyst-predicts-72k-price-target/">Will Bitcoin Hit ATH this week? Analyst Predicts $72k Price Target</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin’s price has <a href="https://markets.coinpedia.org/bitcoin/">surged above $67K</a> over the weekend, marking its first rise to this level in nearly a month. This increase was driven by recent data indicating a softening in U.S. inflation and significant interest in spot Bitcoin ETFs, leading to a massive inflow in Bitcoin ETF investments.&nbsp;</p> 
<p>Some analysts believe that the correction is over and predict that Bitcoin will soon break out to $72K.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-to-hit-72k">Bitcoin To Hit $72K</h2> 
<p>In a recent tweet, Crypto Rover predicted a significant bullish trend for Bitcoin, forecasting a potential surge to $72,000 within the week. This prediction has prompted investors to reassess their positions and strategies in light of the anticipated price movement.</p> 
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   <p lang="en" dir="ltr">This week <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will go to $72k.<br><br>Are you prepared?</p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1792510832154222726?ref_src=twsrc%5Etfw">May 20, 2024</a>
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<p>Rover’s forecast coincides with the anticipation surrounding the upcoming Ethereum ETF decision. The <a href="https://coinpedia.org/news/ethereum-etf-decision-approaches-what-will-happen-to-eth-prices/">SEC is expected</a> to deliver a verdict on VanEck’s application on May 23, followed by Ark 21Shares on May 24.</p> 
<p>If these ETFs are approved, it could trigger a substantial rise in the cryptocurrency market, potentially <a href="https://coinpedia.org/news/10x-research-suggests-new-strategy-for-bitcoin-investors-seeking-extra-income/">boosting Bitcoin’s price</a> significantly.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-form-bullish-indicator">Bitcoin Form Bullish Indicator</h2> 
<p>Echoing the bullish sentiment, Moustache recently highlighted a “big green candle” for Bitcoin, suggesting that a substantial upward movement will take BTC to surpass $73k soon.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <br><br>Big green candle for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is loading. <br><br>$73,000+ next imo.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Looks like a beautiful inverse head &amp; shoulders pattern + retest to me. <a href="https://t.co/ju8ZSdvL7Q">pic.twitter.com/ju8ZSdvL7Q</a></p>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1792553087384600771?ref_src=twsrc%5Etfw">May 20, 2024</a>
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<p>Moustache’s prediction is based on the emergence of a classic bullish pattern known as the inverse head and shoulders, often considered a strong indicator of an upcoming upward trend in technical analysis. The successful retest of this pattern adds further credibility to the prediction.</p> 
<p>If Moustache’s forecast holds true, Bitcoin could see its price soar past $73,000 soon. Such a rise would likely boost investor confidence and attract more institutional investments.</p> 
<h2 class="wp-block-heading" id="h-end-of-bitcoin-correction-nbsp">End of Bitcoin Correction&nbsp;</h2> 
<p>Adding to the bullish outlook, well-known trader and analyst Rekt Capital believes that a major correction has already happened, suggesting the market may have hit bottom. He noted that Bitcoin only needs a 1% price increase to start a new bull market phase.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> only needs to drop an additional -1% to perform the post Bull Flag breakout retest attempt in an effort to secure trend continuation to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/SRqzmUchhC">https://t.co/SRqzmUchhC</a> <a href="https://t.co/BrWlJwDbNt">pic.twitter.com/BrWlJwDbNt</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1791836627750269248?ref_src=twsrc%5Etfw">May 18, 2024</a>
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<p>Recently, Bitcoin’s price broke through significant resistance at $67.4K but still faces strong resistance around $68K. The biggest liquidity and potential for further gains lie at and above the $72K level.</p>

Will Bitcoin Hit ATH this week? Analyst Predicts $72k Price Target

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