đš Bitcoin ($BTC ) Set for an Imminent Breakout! đ
Bitcoin, the leading cryptocurrency, has been in a tight range between $60,000 - $62,000, but a breakout is on the horizon! Currently trading at $62,102, BTC is eyeing the $70,000 level. However, challenges lie ahead with the upcoming US presidential elections and rising geopolitical tensions.
Key Levels to Watch:
If Bitcoin breaks below $60,000, potential test levels include $56,602, $52,614, and $50,580.
Weekly closes below $52,614 could lead to declines toward $40,000 - $42,000.
Conversely, if tensions ease and positive sentiment around the elections boosts the market, or if BTC manages daily closes above $63,000, we could see upward movements towards $64,758, $67,091, $70,500, and even $73,684. A weekly close above $70,500 would significantly accelerate the Bitcoin rally.
Attention Altcoin Investors! đ Keep an eye on Bitcoin's dominance in the market and the price of Ethereum. With BTC dominance dropping below 50%, the altcoin market could see significant gains. For ETH, the $2,500 level will be crucialâstaying above this price increases the likelihood of an altcoin bull run.
Stay informed and ready for the market moves!
