Bitcoin bear trap over? BTC price fractal hints at parabolic move next
Bitcoin still faces significant resistance at $62,000, and if it breaks, it would liquidate over $845 million of leveraged shorts.
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Bitcoin still faces significant resistance at $62,000, and if it breaks, it would liquidate over $845 million of leveraged shorts.
The newly minted stablecoins could help push Bitcoin’s price above the $65,000 resistance, which is the short-term whale holder’s realized price.
Ethereum’s underperformance against Bitcoin is largely due to competition from Solana and the weaker-than-anticipated debut of its spot ETFs.
Bitcoin could experience another two months of downside pressure before a bullish chart pattern could lead to a breakout.
Despite the gloomy outlook, Bitcoin could prevent more downside pressure if it manages to remain above the $51,000 mark.
The last time Bitcoin whales moved this many coins from exchanges was when the BTC price was around $220 in 2015.
Bitcoin could reach a macro price top of above $100,000, but can BTC stage a weekly close above $71,500 to confirm a breakout?
Bitcoin could see a new all-time high due to the looming US federal debt, which surpassed $105,000 for every living person in the country.
The beginning of the “macro summer” rally could help Bitcoin price reach a new all-time high and rally well into 2025, according to Raoul Pal.
Altcoins are in accumulation territory after experiencing a drawdown over the last 3 months.
