Many Pro-Traders predict a strong Bitcoin price increase?
The bulls are very excited as Bitcoin price increased sharply to 63k4. Some market indicators show that Bitcoin may be starting a new bull run. Since the beginning of the month, Bitcoin has retested the 60K support area. Even though the probability of a FED rate cut is not as high as before, BTC price is still stable and gradually has sustainable increases.
Trader Skew believes that Bitcoin has confirmed a reversal on the H4 chart. The RSI is around 50 and spot buying demand is increasing. In addition, the opening time of the weekly and monthly candles is very important. If BTC wants to continue the bullish wave, it needs to regain the 65K area.
Material Indicators analyzed the orderbook liquidity on the exchange and said that BTC could rise above $64.9K. FireChart indicator shows that BTC support at $63K is strong and the bulls are looking to break above the 200D MA. If successful, we will see a price of 69k.
On the miners side (Bitcoindata21), they believe that the market is repeating the old price behavior, in which the total capitalization of USD-backed stablecoins compared to BTC is moving sideways for a long period and may break down to open a new BULL MARKET.
