back to top
HomeBitcoinBitcoin value prediction: Is $79K the following goal of BTC bulls?

Bitcoin value prediction: Is $79K the following goal of BTC bulls?


  • Bitcoin has a bullish market construction on the each day timeframe.
  • The numerous capital influx and powerful momentum favored an upward transfer on the each day chart.

Bitcoin [BTC] noticed elevated demand from ETFs a month after the halving occasion. An AMBCrypto report famous that the altcoin efficiency has eclipsed Bitcoin not too long ago.

One other AMBCrypto evaluation drew parallels between the 2020 post-halving and present tendencies. The Rainbow Chart confirmed that BTC was nonetheless within the purchase zone – does the Bitcoin value prediction agree?

Bitcoin bulls are usually not prepared to drive the problem but

Supply: BTC/USDT on TradingView

The worth motion on the 1-day chart was bullish. Bitcoin dropped under the 61.8% Fibonacci retracement stage (pale yellow) at $59.4k in early Could however was fast to get better.

It has flipped the short-term vary (purple) excessive at $67k to assist. Furthermore, the CMF confirmed a studying of +0.12 to replicate vital capital influx to the market.

The RSI on the each day chart was additionally above impartial 50 to sign bullish momentum. Collectively, the technical indicators pointed towards a bullish Bitcoin value prediction.

This indicated a decrease timeframe liquidity hunt and outlined a consolidation section. The upper timeframe uptrend will possible proceed quickly. The Fibonacci extension ranges at $79.2k and $88.1k can be the goal for patrons within the coming weeks.

Does the liquidation cluster to the south warrant Bitcoin’s consideration?

Bitcoin Liquidation Heatmap

Supply: Hyblock

The info from Hyblock confirmed that the $66.2k-$66.7k area was residence to a cluster of liquidation ranges, and BTC would possibly dip to this area.

Learn Bitcoin’s [BTC] Worth Prediction 2024-25

Alternatively, the liquidity at $67.8k, which has already been swept, is likely to be sufficient to propel Bitcoin again to the $71.2k resistance zone.

Merchants must be ready for each outcomes and handle their threat accordingly. Brief-term volatility was doable and a revisit of the $66.5k stage would offer a shopping for alternative.

Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.

Subsequent: Ethereum ETFs to be launched in July? Skilled weighs in!


Please enter your comment!
Please enter your name here



Is Bitcoin’s backside in? $600M in liquidations stirs debate

Bitcoin struggled to take care of the $65,000 degree amidst market volatility. Analysts offered conflicting views on whether or not Bitcoin has reached its lowest level. Regardless...

NATO fearful Russia might help North Korea's missile and nuclear applications By Reuters

By Humeyra Pamuk and David Brunnstrom WASHINGTON (Reuters) - NATO is anxious about help Russia might present for North Korea's missile and nuclear applications,...

BlockDAG's Keynote 2: Surpassing ETH Forecasts & Injective

As Ethereum grapples with sustaining its value above the $4,000 mark amidst ETF approvals, its ecosystem vibrates with potential. In the meantime, Injective has seen...

FOMC triggers $600M crypto outflows: Bitcoin loses, whereas ETH beneficial properties!

Outflows from crypto funds climbed to a three-month excessive final week. Whereas BTC recorded vital outflows, inflows into ETH-backed merchandise have been above $10 million.  {Digital} asset...

Most Popular