Bitcoin (BTC), the original cryptocurrency that revolutionized digital finance, is once again the focus of this analysis.
We examine BTC price prediction, supported by insights from our Discord environment. Here we share more than 20 analyzes every week and regularly host live streams.
Technical analysis of Bitcoin (BTC) price
Bitcoin has been moving mostly sideways for some time. The fireworks we saw leading up to the all-time high appear to be over for now.
Nevertheless, the analysts at Crypto Insiders assume that there will be more fireworks soon. They explained this in the Discord group last weekend as follows:
“We see that Bitcoin is currently in an interesting phase. The price tested the crucial support line around $59,377 a few days ago and this served as a springboard for the upward move. Even if some find the recent fluctuations exciting, we see opportunities.
This current consolidation below the key orange resistance line leads us to believe the market is catching its breath before attempting another breakout higher. This is further supported by the formation of a potential reversal pattern below the early April low, which could indicate an accumulation of buying power. From this low point we recovered to the current price of $64,443.
Caution is advised. If the price still falls below the $59,377 level, it could result in Bitcoin reaching the green support line around $49,262. Nevertheless, we remain optimistic. If current levels hold, we are already looking up and still expect a breakout above $80,000.”
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These therefore serve exclusively educational purposes.
