Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/josh-predicts-bitcoins-major-move" data-wpel-link="internal" rel="noopener noreferrer nofollow">Josh Predicts Bitcoin’s Major Move</a><br></p>
<p style="text-align: justify">Josh, a prominent figure in the crypto world, has recently analyzed <a href="https://en.bitcoinhaber.net/bitcoin-market-watches-federal-reserve-meeting-for-interest-rate-decision" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s (BTC) current price trend and remains optimistic despite the challenging <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>. He highlighted a significant signal from last month that suggests an imminent substantial change in Bitcoin’s price.</p>
<h2 id="what-signals-a-30-break">What Signals a 30% Break?</h2>
<p style="text-align: justify">Josh foresees a potential 30% movement in Bitcoin’s value that could either decrease to around $48,000 or increase to approximately $90,000. This anticipated shift hinges on whether Bitcoin successfully breaches its resistance or drops below its support levels. The analyst suggests that a stronger upward trend makes an upward move more likely.</p>
<p style="text-align: justify">Currently, Bitcoin is experiencing choppy and mostly sideways trading on the daily chart, fluctuating between a support level of $67,000-$68,000 and a resistance level of $72,000-$74,000. This indicates a neutral short-term perspective. Josh asserts that surpassing the $72,000-$74,000 resistance range, which is near the all-time high, would likely trigger a notable upward move, continuing the bullish trend.</p>
<h2 id="how-could-inverse-head-and-shoulders-impact">How Could Inverse Head and Shoulders Impact?</h2>
<p style="text-align: justify">The 3-day Bitcoin price chart reveals a possible inverse head and shoulders pattern, typically a bullish indicator. To confirm this pattern, Bitcoin must break above the neckline at around $71,700, ideally with a 3-day candle close above $73,000-$74,000, potentially driving the price up to $86,000-$87,000.</p>
<p style="text-align: justify">On the other hand, if Bitcoin dips below the $67,000 support level, it could fall further to the $63,000-$64,000 range. A more significant decline below the $60,000-$61,000 mark would suggest a bearish trend, potentially bringing Bitcoin’s price down to around $50,000.</p>
<h2 id="concrete-market-insights">Concrete Market Insights</h2>
<p style="text-align: justify">– A 30% movement in Bitcoin is anticipated, either upwards or downwards.<br> – Key support levels are $67,000 and $63,000-$64,000.<br> – Resistance levels to watch are $72,000-$74,000.<br> – An inverse head and shoulders pattern could push the price to $86,000-$87,000 if confirmed.<br> – Monitoring the US Dollar Index (DXY) is crucial as its trends often correlate inversely with Bitcoin’s price.</p>
<p style="text-align: justify">Notably, Josh mentioned that a short-term bounce in the US Dollar Index (DXY) could indicate a bearish trend for Bitcoin and the broader cryptocurrency market. Typically, a rising DXY correlates with a bearish trend for Bitcoin and altcoins, while a falling DXY usually signals a bullish trend for the cryptocurrency market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/josh-predicts-bitcoins-major-move" data-wpel-link="internal" rel="noopener noreferrer nofollow">Josh Predicts Bitcoin’s Major Move</a></h5>

Josh Predicts Bitcoin’s Major Move

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