Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-highlights-critical-levels-for-bitcoin-and-altcoins/" data-wpel-link="internal">Analyst Highlights Critical Levels for Bitcoin and Altcoins</a><br></p>
<p style="text-align: justify">We witnessed a period of stagnant price movements in Bitcoin and <strong>cryptocurrencies</strong> after recent rises. These intermittent price movements, lasting about 2.5 months, resulted in declines for some altcoins. Some declines erased the profits <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> had gained. Today, analyst Michael van de Poppe evaluated Bitcoin and altcoins. The analyst pointed to a critical level for Bitcoin.</p> 
<h2 style="text-align: justify" id="the-importance-of-the-70-000-level-for-bitcoin">The Importance of the $70,000 Level for Bitcoin</h2> 
<p style="text-align: justify">Analyst van de Poppe believes the critical area for Bitcoin continues to be maintained. Bitcoin’s recent movement above the $66,000 level and its resistance at $70,000 highlight this critical area.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-358709 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/poppe.png" alt="" width="556" height="511"></p> 
<p style="text-align: justify">According to van de Poppe, Bitcoin needs to surpass this critical resistance to show significant upward momentum. The analyst identifies this critical resistance level at $70,000. This increase in Bitcoin could potentially bring new peaks.</p> 
<p style="text-align: justify">While analyzing Bitcoin, the analyst also made evaluations regarding altcoins. According to the analyst, altcoins have shown a stronger increase than Bitcoin. Commenting on this rise, the analyst suggests that the time for altcoins might have come, implying a potential altcoin season.</p> 
<h2 style="text-align: justify" id="predicting-bitcoin-s-price-direction-becomes-harder">Predicting Bitcoin’s Price Direction Becomes Harder</h2> 
<p style="text-align: justify">Bitcoin, the flagship of cryptocurrencies, was challenging the $69,000 level at the time of writing. BTC is trading at $68.920. The price increased by 1% in the last 24 hours.</p> 
<p style="text-align: justify">As seen in the graph provided by van de Poppe, two significant levels are highly influential on Bitcoin’s price. These levels are $67,000 and $70,000. This range already stands out as a trend.</p> 
<p style="text-align: justify">A horizontal movement can lead to a two-way prediction; if Bitcoin surpasses $70,000, the rise will continue. However, if BTC drops below the $67,000 level, such a movement will hinder the rise, and the $60,000 levels for Bitcoin will be discussed again. However, with a catalyst like the upcoming spot <a href="https://en.coin-turk.com/ethereums-struggle-and-potential-comeback-amidst-bitcoins-rise/" data-wpel-link="internal">Ethereum</a> ETF, a decline expectation is not currently present in the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-highlights-critical-levels-for-bitcoin-and-altcoins/" data-wpel-link="internal">Analyst Highlights Critical Levels for Bitcoin and Altcoins</a></h5>

Analyst Highlights Critical Levels for Bitcoin and Altcoins

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