#Bitcoin Analysis: Another rejection around $71,500 has left traders feeling frustrated after 7 days of attempts to break this level. Sustaining above $68,500 is crucial for bulls to maintain momentum, preventing a retreat to $65K. Optimistic news expected this week may sustain prices and potentially push towards $78K.
Bullish indicators, including 100/200 (4h) moving averages, remain strong, with today's daily close pivotal. Spot market activity is less aggressive, with hopes for increased support throughout the day to stabilize prices.
While order book activity lacks significant movements, key levels for big buyers ($60K, $65K) and sellers ($76K/$78K) remain relatively unchanged. A bounce before cooling down is anticipated, so traders are advised to stay vigilant.
Despite market fluctuations, the overall sentiment suggests any potential drop, pre- or post-halving, is unlikely to exceed -20%/-25%, providing opportunities for strategic entries by larger players.
Disclaimer: This stellar analysis comes straight from the insightful Ualifi Araújo ( X - ualifiaraujo ), a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world!
