Famous analyst spoke: Which level should be exceeded in Bitcoin?

According to analyst Willy Woo, Bitcoin reaching $7,000 will cause a liquidation wave, paving the way for it to reach all-time highs. #Bitcoin increased by 3.15 percent in the 24 hours until 11:05 on June 5, reaching $71,124. In light of CoinMarketCap data, the leader of cryptocurrencies appreciated by 4.8 percent on the weekly chart.

Bitcoin price is facing a significant resistance near the $71,500 and $72,000 levels. According to CoinGlass, if BTC exceeds $ 72,000, short positions worth $ 800 million will be liquidated on all exchanges.

If it rises above the $72,500 level, Bitcoin will trigger the liquidation of over $1.2 billion in leveraged short positions. Currently, BTC is 3.4 percent below its all-time high of $73,740, reached on March 14.

According to popular crypto analyst Rekt Capital, Bitcoin's post-halving accumulation (danger zone) ended on May 6, with Bitcoin rising above $60,000 again. Bitcoin's price has increased by over 12.5 percent since May 6, confirming that the post-halving danger zone is over.

In an X post, Rekt Capital shared that the Bitcoin price broke out of a significant two-week downtrend on June 3:

“Bitcoin broke its two-week downtrend today. However, we have seen upward wicks beyond this downtrend before. Therefore, a daily close is needed later today to confirm this breakout.”

However, according to #RektCapital , Bitcoin needs to turn $72,000 resistance into support before entering the “parabolic phase” of the bull cycle.
$BTC