Shift

Bitcoin

Resistance

Captain

Read

<ul>
 <li>Bitcoin to rally above the $60K resistance zone after several unsuccessful attempts.</li>
 <li>Captain Faibik believes that once Bitcoin surpasses $60K, the next target is $70K, based on market trends and historical data.</li>
 <li>Germany’s Bitcoin liquidation and the Mt. Gox trustee’s sell-off contribute to market uncertainty</li>
</ul>
<p><a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> faces a crucial test as it struggles to breach the $60K resistance zone. Market uncertainty adds to the complexity, making this a critical moment for BTC.</p>
<p>Recent attempts to surpass the $60K barrier have met with resistance. Despite these setbacks, optimism remains high.&nbsp;</p>
<p>The market’s volatile nature has traders on edge, but many believe a breakthrough is imminent. Crypto analyst <a href="https://twitter.com/cryptofaibik?lang=en" rel="noopener noreferrer nofollow">Captain </a><a href="https://twitter.com/cryptofaibik?lang=en" target="_blank" rel="noopener noreferrer nofollow">Faibik</a> has weighed in on the situation. He believes that once Bitcoin breaks through the $60K resistance, the next target will be $70K.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> bulls are again trying to clear the Crucial Resistance level at $60K.<br><br>Once the Breakout is done, the next stop will be $70K.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/WnMxSopR8J" rel="noopener noreferrer nofollow">pic.twitter.com/WnMxSopR8J</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1812312117946503537?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>His analysis is grounded in the current market trends and historical data. According to Faibik, the momentum could shift quickly once this key resistance level is breached.</p>
<p>Technical indicators are crucial in this scenario. Many analysts focus on moving averages and other metrics to gauge Bitcoin’s next move.&nbsp;</p>
<h2 class="wp-block-heading" id="h-why-has-btc-been-bearish">Why Has BTC Been Bearish?</h2>
<p>Various factors contributed to a <a href="https://cryptonewsland.com/bitcoin-sinks-to-55000-amid-mt-gox-sell-off/" target="_blank" rel="noopener noreferrer nofollow">bearish</a><a href="https://cryptonewsland.com/bitcoin-sinks-to-55000-amid-mt-gox-sell-off/" rel="noopener noreferrer nofollow"> BTC</a> Firstly, Germany has liquidated a significant amount of Bitcoin. This move added selling pressure to the market, preventing Bitcoin from achieving new highs.</p>
<p>Another major concern is the anticipated sell-off from the Mt. Gox trustee. Mt. Gox, a defunct Bitcoin exchange, is set to return a substantial amount of Bitcoin to its creditors. The looming distribution has created uncertainty in the market.&nbsp;</p>
<p>Investors fear that a large influx of Bitcoin could lead to further selling pressure. Despite the challenges, the <a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" rel="noopener noreferrer nofollow">long-term </a><a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" target="_blank" rel="noopener noreferrer nofollow">outlook</a><a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" rel="noopener noreferrer nofollow"> is bullish</a>. BTC’s role as a digital asset and store of value continues to grow.&nbsp;</p>
<p>Meanwhile, institutional interest in digital assets is increasing, and adoption rates are rising. These factors contribute to the overall bullish sentiment.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoinbtc-holds-strong-at-70k-again-ethereum-eth-aims-for-4k-and-furrever-token-emerges-as-a-2024-game-changer/" rel="noopener noreferrer nofollow">Bitcoin(BTC) Holds Strong at $70k Again, Ethereum (ETH) Aims for $4k, and Furrever Token Emerges as a 2024 Game-Changer</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-struggles-with-the-bears-trades-below-60k/" rel="noopener noreferrer nofollow">Bitcoin Struggles With the Bears, Trades Below $60k</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-price-prediction-60k/" rel="noopener noreferrer nofollow">$60K Bitcoin Price: A Dream or Reality?</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-withdrawals-from-exchanges-signal-potential-market-shift/" rel="noopener noreferrer nofollow">Bitcoin Withdrawals from Exchanges Signal Potential Market Shift</a></li>
 <li><a href="https://cryptonewsland.com/altcoins-to-boost-over-2700-this-year-analyst-explains/" rel="noopener noreferrer nofollow">Altcoins to Boost Over 2700% This Year, Analyst Explains</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bulls-eye-70k-as-btc-struggles-to-soar/" rel="noopener noreferrer nofollow">Bulls Eye $70K As BTC Struggles to Breach Key Resistance at $60K Zone</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bulls Eye $70K As BTC Struggles to Breach Key Resistance at $60K Zone

Table of Contents

Crypto News Land

دیگر آرٹیکلز 14 جولائی، 2024 پر پبلش کیے گئے ہیں

The GREATEST Altcoin Play Of The 2024 Bull Cycle Is…

Donald Trump Still Committed To Speak At Bitcoin Conference

Huge Crypto Bull Market Ahead! Best Crypto for Maximum Gains

TrumWifHat | Just Relaunched | Low MC & High Potential | Trump hype is back

Bitcoin Alternatives Pumping Higher: Avalanche (AVAX), Polkadot (DOT) And A Fresh New Memecoin

Trump meme coins spike, SEC drops BUSD probe, Germany empties BTC stash, ETFs recover | Weekly Recap

Join our free newsletter for daily crypto updates!