#Write2earn Bitcoin Bulls: Anticipating the Next Surge Amid Consolidation
#Bitcoin #btcupdates2024 #btc70k #BitcoinPriceAnalysis $BTC

Bitcoin hovers near $70,000, hinting at an impending surge after a consolidation phase. The market eagerly awaits the next significant move.

With recent strides, Bitcoin's consolidation is expected. This phase may persist briefly, with the weekly close serving as a key moment. A weekly candle closing above $70,000 could mark the start of a bullish run.

Examining the weekly timeframe reveals Bitcoin poised against its bull flag and the 0.786 Fibonacci retracement level, suggesting potential upward momentum.

While outcomes are uncertain, indicators point favorably for Bitcoin. A breakout above the bull flag could drive prices higher, with targets around $84,000 and $102,000.

Moreover, the stochastic RSI indicator signals a bullish crossover, indicating rising momentum.

Notably, US Bitcoin ETFs witness a significant influx, indicating strong retail interest. Renowned investor Raoul Pal views this as a chance for investors to tap into a generational trend, emphasizing crypto's potential amid economic uncertainty.
Pal's stance underscores crypto's role as a hedge against global economic challenges, though thorough research is essential for informed investment decisions.

Cryptocurrency analyst Ali references the URPD indicator of the realized price distribution of UTXOs (transactions not yet spent) at a specific price range, stating that Bitcoin (BTC) has established a stable support level at $36,400. Ali suggests that if this support line is breached, the price of BTC could experience a decline, with potential initial targets at $34,300 and further down to $30,200. 📉💹 #BitcoinPriceAnalysis #CryptoMarketForecast

Clem Chambers, CEO of Online Blockchain, suggests Bitcoin's current price patterns mimic pre-2021 surge, hinting at a potential significant rise akin to the past $20,000 leap. He highlights the potential impact of a Bitcoin spot ETF approval by the SEC and the upcoming halving, indicating positive price prospects. #BitcoinPriceAnalysis #BTCFractalPatterns

**Breaking News:** 📄 Grayscale's official report emphasizes that Bitcoin's price surge in 2024 won't solely rely on spot ETF approvals, as increased fund inflow and demand are expected to drive positive impacts. The report anticipates the April halving and continuous investor demand to have a more significant effect on price than short-term supply and demand fluctuations. It highlights the role of investment demand factors, akin to gold, in influencing BTC's price. However, the report cautions that cryptocurrency remains a highly volatile asset class, urging investors to consider both micro and macro factors. 📊🚀 #BitcoinPriceAnalysis 🌐📢

📉 Bitcoin price dip prompts Realized Price realization! 💰 Holders of 1-3 month BTC age band react to $28,300 drop. 📈 Past trends suggest bearish signal if BTC falls below short-holder realized price. Analyzing on-chain insights for market sentiment and signals. #BitcoinPriceAnalysis #RealizedPrice #MarketSignals

#Write2earn #Bitcoin Eyes $67,000 Resistance Amidst Bullish Reversal #BitcoinPriceAnalysis #BullishMay #BTC🔥🔥🔥🔥🔥
$BTC

Bitcoin has recently broken its downtrend and is eyeing the challenge of surpassing resistance at $64,000. If this current upward momentum persists and the breakthrough occurs, the next target for Bitcoin could be $67,000.

The risk of Bitcoin losing its bullish trend line seems to have diminished, at least for the time being. The possibility of a continuation of the rally from the recent low of $56,600 remains viable. However, the medium-term outlook remains uncertain, with the potential outcomes ranging from a return to previous highs, a prolonged period of sideways movement, or merely a temporary bounce before revisiting lower levels.

At the $63,000 level, Bitcoin has found new support, especially evident on the shorter 4-hourly time frame. A successful retest of the downward trend line indicates a favorable outlook for further upward movement, with $67,000 presenting a significant target for this upward push.

Yet, breaking through the $66,000 resistance may prove challenging. On the weekly time frame, Bitcoin appears to be holding firm at the $63,000 support level, reinforced by a substantial wick down to $56,800.

Moreover, the resistance around $66,000 aligns with the weekly candle close during the peak of the 2021 bull market, suggesting formidable resistance.

However, concerns arise when examining the 2-monthly chart, which paints a less optimistic picture for Bitcoin's future. The previous 2-month candle closed below the $61,000 resistance, accompanied by a towering wick above it, indicating significant selling pressure that pushed the price below resistance.

Despite these bearish signals, the ongoing short-term rally on the weekly time frame persists. It remains to be seen how far Bitcoin's price can climb before the impact of the concerning candle pattern fully manifests in the current bull market.

#Write2earn #Bitcoin Faces Pullback: Will #BTC Price Dip Below $60,000? #BitcoinPriceAnalysis #Bitcoin❗️
$BTC

Bitcoin experienced a 5% pullback following the lackluster debut of Bitcoin and Ether ETFs in Hong Kong. The question on everyone's mind: Can BTC dip below $60,000 due to high-leverage liquidation?

The price of Bitcoin dropped nearly 5% from its intraday peak of $64,734 as market participants showed little enthusiasm for the launch of spot Bitcoin and Ether ETFs in Hong Kong. This downward momentum pushed BTC even lower than the previous day's price, driven by high leverages in anticipation of a relief rally. However, the debut of crypto ETFs in Hong Kong failed to impress the market.

Adding to the disappointment, U.S. Spot Bitcoin ETFs experienced their fourth consecutive day of outflows, with over $51 million withdrawn. These crypto investment products have seen three weeks of consecutive outflows, with the most recent week witnessing a substantial outflow of $435 million.

The six spot Bitcoin and Ethereum ETFs in Hong Kong recorded a mere $12 million in trading volume on their first day, a staggering 383 times lower than the debut of U.S. Bitcoin ETFs.

Following the lackluster ETF debut, traders quickly began shorting Bitcoin, leading to a sudden drop in BTC price to $61,451. This triggered a broader selloff in the crypto market, resulting in investors losing nearly $130 billion as the crypto market cap dropped to $2.27 trillion. Over $205 million in liquidations were recorded across the crypto market during this selloff, with $145 million from long positions and over $60 million from short positions.

More than 66,000 traders were liquidated, with the largest single liquidation order occurring on crypto exchange Binance, where someone sold ETH valued at $5.03 million. ETH price also plummeted over 5% in the last 24 hours.

Crypto analyst Rekt Capital believes Bitcoin is still in a danger zone and could dip below $60,000, but he also hints at a possible rally starting in mid-May.