Key Insights:
Bitcoin Surge: Bitcoin's recent climb above $65,000 signals a potential move towards $70,000.
Market Liquidations: Despite overall market gains, both bullish and bearish traders experienced similar liquidation values.
Resistance Levels: Bitcoin may hit resistance around $68,600, risking a drop to $50,000 if it fails to break out of its current descending channel.
Ethereum's Test: Ethereum is testing resistance at $3,500. A daily close above this level is crucial for a further move towards $4,000.
Worldcoin Rebound: Worldcoin has bounced back from $1.75 and is testing resistance at $2.885, with potential for a rally towards $10.
Arweave's Path: Arweave broke above a descending triangle, aiming for the $46.7 resistance. However, a retest around $29 is possible before a major rally.
The bulls have been particularly active this week, with Bitcoin steadily rising from below $60,000 to its current position. Bitcoin now trades strongly above the $65,000 zone and is moving towards the $70,000 mark.
Market Performance
The crypto market is predominantly green, displaying significant bullish strength. However, the liquidation heatmap presents an intriguing picture.
Crypto Liquidation Heatmap
In the past 24 hours, around $200 million in liquidations have occurred across the market, affecting both bullish and bearish leveraged traders. Interestingly, bullish liquidations closely match bearish ones, with bears losing around $101 million and bulls losing nearly $99 million.
Bitcoin's Crucial Point
Bitcoin currently trades within a descending channel. Its impressive performance this week brings it closer to the upper trendline, where resistance around $68,600 is expected. Failure to break out could result in a bearish price rejection towards $50,000.
Ethereum's Breakout Potential
Ethereum is testing the $3,500 resistance level. While the bullish momentum suggests a potential breakout, a daily candle close above $3,500 is crucial for further upward movement towards $4,000.
Worldcoin's Revival
Worldcoin has rebounded from $1.75 and is testing the $2.885 resistance. Beyond this, the cryptocurrency aims to test the crucial $3.676 resistance, with a breakout or reversal likely.
Arweave's Impressive Performance
Arweave has rebounded from $20 and broke above a mini descending triangle, aiming for the $46.7 resistance. However, a retest around $29 is possible before the major rally begins.
Disclaimer
Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
Meta Description
Today's market report highlights Bitcoin's bullish momentum towards $70,000 and its break above $65,000. Key resistance levels for Ethereum at $3,500, potential breakouts for Worldcoin around $2.885, and Arweave targeting $46.7 are also discussed.