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<p>Bitcoin’s price movement has dipped below the range it established a month ago. Zen, a top analyst on X, <a href="https://x.com/WiseAnalyze/status/1801918744056242278" target="_blank" rel="noopener noreferrer nofollow">highlighted the critical levels in Bitcoin’s</a> trading lately. Specifically, Bitcoin formed a range around $69,060 with a peak at $72,130. This dip triggered stop-loss orders below $65,800, a target Zen identified as likely for a bearish move.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-btc-price-prediction-strong"><strong>Bitcoin (BTC) Price Prediction</strong></h2>
<p>The coming days are crucial for Bitcoin’s trajectory. If the price closes above the range bottom, it might signify a failed bearish swing, potentially driving the price back to the middle range around $69,060 or even higher to $72,130. However, Zen remains cautious, stating, “Only theoretically! So far looks like shit.”</p>
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd3jAIBTXr6RP_QimxGCq6H-sDXkZpj_gUWHvjBlCN_pM981aaXlSBzQEoklzgcEigqPiziUkPZd0rI_4IGajWPYpWLSWTOLIi1ImvdnMl1q9_9SLE-mmmDcc-0Ab7JjA_1I5fIyvbZL35eL436z3eIWQ4?key=39cyyxpuXDarLFbpuSdr2A" alt="" style="width: 100%;height:auto">
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<p>Conversely, if Bitcoin starts trading below $66,000, it could lead to further declines. Zen predicts retracement levels of $64,000 or $63,000, with possible dips down to $59,000. These predictions are grounded in analyzing higher time frame ranges and observing liquidity pools.</p>
<h2 class="wp-block-heading" id="strong-liquidity-pools-and-key-levels-strong"><strong>Liquidity Pools and Key Levels</strong></h2>
<p>Zen provides an insightful breakdown of nearby liquidity pools, essential for traders to consider. Above the current price, the significant levels are $67,720, $69,195, and $70,390. Below, the notable pools are at $64,950, $64,270, and $63,080.</p>
<p>Additionally, Zen outlines critical lines on the chart: the May high at $72,132, March close at $71,363, and various weekly and monthly closes such as $69,667 and $68,540. These levels serve as crucial indicators for traders monitoring potential support and resistance points.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/polygon-price-prediction-top-matic-trader-shifts-bullish-with-0-85-target-heres-why/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Polygon Price Prediction: Top MATIC Trader Shifts Bullish with $0.85 Target – Here’s Why</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-market-sentiment-and-trend-analysis-strong"><strong>Market Sentiment and Trend Analysis</strong></h2>
<p>Market sentiment remains a pivotal factor. The Fear and Greed Index (F&amp;G) has seen a slight decline from 74 to 70, indicating a cautious market stance. Understanding these sentiments is vital for predicting short-term movements.</p>
<p>Furthermore, Zen’s analysis extends to daily (D), weekly (W), and monthly (M) trends, providing a comprehensive view of the market dynamics. This holistic approach helps traders make informed decisions based on multiple time frames.</p>
<p>Hence, Bitcoin’s current dip below its established range presents both opportunities and risks. Besides, if it manages to close above the range bottom, it could recover to previous highs. However, trading below $66,000 might lead to further declines.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-prediction-will-btc-rebound-to-72k-or-drop-to-59k-key-levels-to-watch/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: Will BTC Rebound to $72K or Drop to $59K? Key Levels To Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Prediction: Will BTC Rebound to $72K or Drop to $59K? Key Levels To Watch

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