Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-highlights-bitcoins-potential-for-significant-price-increase/" data-wpel-link="internal">Analyst Highlights Bitcoin’s Potential for Significant Price Increase</a><br></p>
<p style="text-align: justify">Experienced cryptocurrency analyst DonAlt commented on the current state of <a href="https://en.coin-turk.com/peter-schiff-warns-of-a-potential-price-drop-for-bitcoin/" data-wpel-link="internal">Bitcoin</a> (BTC), noting that its potential for a significant price increase could rise if it manages to surpass a key resistance level. The analyst shared important resistance levels, ranges, and key support levels for the upward movement.</p> 
<h2 style="text-align: justify" id="strong-re-entering-the-60-000-to-70-000-range-will-be-important-strong"><strong>Re-entering the $60,000 to $70,000 Range Will Be Important</strong></h2> 
<p style="text-align: justify"><strong>DonAlt</strong>, in his latest video on the TechnicalRoundup YouTube channel, emphasized the importance of Bitcoin re-entering the $60,000 to $70,000 range. He highlighted that such a move would create a strong impact for further upward movement. The analyst stated that re-entering this range would require a candle close above $60,000 or $61,000. He added that surpassing these levels would be a positive indicator and could help Bitcoin regain its upward momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-370085" src="https://coin-turk.com/wp-content/uploads/2024/07/Bitcoin-Uzman-Yorumu.png" alt="" width="3226" height="1562"></p> 
<p style="text-align: justify">Despite his optimism, DonAlt advised caution as Bitcoin approaches the $60,000 to $70,000 range. The analyst pointed out that there is significant resistance at $63,000, which could pose an obstacle to the upward movement.</p> 
<p style="text-align: justify">Currently, many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are taking long positions targeting the $60,000 to $63,000 range, but the risk of this upward movement being hindered by the resistance at $63,000 remains. This level is seen as the biggest obstacle that the largest cryptocurrency needs to overcome for a sustainable rally.</p> 
<p style="text-align: justify">DonAlt expects Bitcoin to rise towards the $70,000 level if it surpasses the $63,000 resistance. According to him, such a price movement represents a significant milestone for Bitcoin and could pave the way for further upward momentum. However, this scenario depends on Bitcoin overcoming the tough resistance at $63,000.</p> 
<h2 style="text-align: justify" id="strong-52-000-is-an-important-support-but-strong"><strong>$52,000 Is an Important Support But…</strong></h2> 
<p style="text-align: justify">On the other hand, DonAlt noted that $52,000 is a strong support level for Bitcoin on the downside. The analyst warned that this support has been tested before and is not as strong as it once was.</p> 
<p style="text-align: justify">He emphasized that a return to this level could raise concerns about a potential collapse, adding that if Bitcoin fails to hold above the $52,000 support, it could result in a drop to the $42,000 or $43,000 range.</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-bitcoins-potential-for-significant-price-increase/" data-wpel-link="internal">Analyst Highlights Bitcoin’s Potential for Significant Price Increase</a></h5>

Analyst Highlights Bitcoin’s Potential for Significant Price Increase

Съдържание

COINTURK NEWS

Други статии, публикувани на 12.07.2024 г.

Paxos SEC Investigation Ends with No Enforcement Action

Iris Energy shares plunge 14% on AI computing support doubts

Shiba Inu Dev Shytoshi Kusama Invites Elon Musk For Sit-Out

Whale Activity Alert: These 5 Altcoins Are Seeing Major Buys

Ethereum Futures ETFs: What Are They?

Dogecoin Faces Potential Price Drop

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!