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

Tabla de contenidos

COINTURK NEWS

Otros artículos publicados el 12 jul 2024

German Government Nears Bitcoin Holdings Depletion after Latest Transfer

From Worst to Best: These Beaten-Down Altcoins Could Soon Lead the Market As Frontrunners

U.S. House unable to ‘override’ Biden crypto veto on ‘ill-conceived SEC rule’

Cardano Up More Than 4% In 24 hours

Bitget exchange lists TON-based Meme Token DOGS

Germany Has Only 12% Of Its Seized Bitcoin Holdings To Offload After Weeks Of Selling

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!