🕵️‍♂️📊Is Bitcoin price at risk of falling? Experts analyze the head and shoulders pattern

Since the beginning of the year, predictions for the price of Bitcoin have been endless. Although many experts expect the top cryptocurrency to continue its historical price trend in 2024, there are also views that Bitcoin's value has peaked in the current cycle.

On the social media platform X, analyst Ali Martinez made a significant bearish prediction for the price of Bitcoin, pointing out that the price of Bitcoin may be at risk of a sharp correction to around $78,000 in the coming weeks. This is why a strong closing price above $100,000 is a key factor in stopping the decline.

Ali's bearish prediction is based on the formation of a head and shoulders pattern on the 4-hour price chart. The head and shoulders pattern is a technical analysis pattern characterized by three different price highs, including a higher "head" between two lower "shoulders".

And this head and shoulders pattern usually indicates a potential bearish reversal, meaning that the price may change from an uptrend to a downtrend. The reversal of this trend can be confirmed when the price falls below the neckline connecting the troughs between the heads.

Recently, the price of Bitcoin tested the neckline near $92,000 before rebounding to above $98,000. However, the current trend of Bitcoin price seems to be returning to the neckline position of $92,000.

Ali pointed out that if the price of Bitcoin falls and successfully breaks below the neckline, then Bitcoin may pull back to $78,000, which is nearly 20% lower than the current price. However, if Bitcoin can close strongly above $100,000, the current bearish setup will be invalidated, and the market leader may resume bullish momentum and potentially set new highs.

According to TradingView data, as of now, the price of Bitcoin is just below $98,000, down only 0.34% in the past 24 hours and up nearly 5% in a week.

💬 What do you think about this price correction that Bitcoin may face? Do you think the price of Bitcoin will fall below $78,000 or break through the $100,000 mark? Leave your insights and predictions in the comment area!

#比特币价格分析 #比特币趋势 #头肩顶形态 #投资预测

🚀Pantera Capital Founder Predicts Bitcoin Market Value Will Soar to $15 Trillion

Pantera Capital founder Dan Morehead, in an interview with CNBC, made a highly optimistic prediction for Bitcoin, estimating that its market value could reach $15 trillion. It is reported that since the establishment of the institution's Bitcoin fund in 2013, the investment return has exceeded 1000 times.

Morehead stated that currently, many institutions have a median investment ratio of zero in blockchain, with even pioneering investors allocating only 1 - 2% to digital assets. At the same time, 95% of financial wealth has not yet been invested in blockchain, suggesting there are enormous investment opportunities hidden within.

He recalled that the uncertainty around early cryptocurrency regulations hindered large-scale institutional investments. However, with the Trump administration potentially strengthening support for digital assets, Morehead believes that the U.S. may adopt strategies similar to the early internet era to enhance regulatory transparency.

When discussing the possibility of Trump establishing a Bitcoin strategic reserve, he mentioned that the U.S. holds 1% of the world's Bitcoin, and Trump would not sell the Bitcoin held by the U.S. Meanwhile, the dollar is the world's reserve currency, and apart from Bitcoin, there are currently no other suitable assets for storing reserves.

Morehead also believes that although Bitcoin has risen significantly, it still has enormous growth potential, especially considering that many large investors remain cautious about Bitcoin. He recalled that during his participation in 170 investment conferences in 2016, he only raised $1 million, which reinforced his belief that widespread acceptance of Bitcoin still requires time.

Currently, there are 50 million Bitcoin holders in the U.S. and 300 million globally, indicating that Bitcoin has gained strong momentum and is moving towards a new stage of self-growth.

Morehead predicts that Bitcoin's market value will reach $15 trillion, with each coin potentially rising to $740,000, and in a recent investor report, it was revealed that Bitcoin could achieve this goal as early as April 2028.

Currently, Bitcoin's market value is around $2 trillion, with a price of about $100,000 per coin. To reach the target, Bitcoin's price needs to increase by 7.5 times in the next four years.

Finally, what are your thoughts on Morehead's predictions? How do you think the future of Bitcoin will develop? Share your views and insights in the comments section!

#比特币 #加密货币 #投资预测 #价格预测

🚀Bitcoin's month-end sprint: A new high in July is in sight? 📈
 
Everyone, come and see! An earlier report from foreign media set off the crypto community. The author predicted from several aspects whether Bitcoin will reach a new historical high before the end of this month! 🤑
 
1️⃣ First of all, the price of Bitcoin has jumped from $53,400 to more than $64,500 like a rocket. This speed is a bit unbelievable! 😲 Analysts said from a technical point of view that if it can break through the threshold of $61,000 to $62,000, a new high at the end of the month is not a dream! $BTC

 2️⃣ Then, the RSI index of Bitcoin at $53,400 is the same as that at $25,000 before, so will history repeat itself and Bitcoin will set a new high this time? 📊
 
3️⃣ Most of the liquidity is concentrated around $63,500. Analysts believe that if Bitcoin can break through this point, it may usher in a big rise by the end of the month!
 
4️⃣ Fed's Powell announced that the FOMC meeting will be held at the end of the month. Although the interest rate is expected to remain unchanged in July, the market has already anticipated the interest rate cut in September. At the same time, the CME futures market shows that the possibility of a rate cut in September is as high as 94.3%! The market expects 2-3 interest rate cuts before the end of this year, which is also very good news for Bitcoin!
 
5️⃣ Bitcoin computing power rebounded quickly after touching 53,400, indicating that miners are back. It may also mean that miners may not sell their Bitcoin in the short term.
 
6️⃣ The fear and greed index soared and doubled, from around 25 to the current 65, and the market sentiment is very good. Regarding the recent price increase of Bitcoin, some people believe that it may be closely related to the attempted assassination of Trump!
👀Think about it, if Trump said at the conference that he wanted to treat Bitcoin as a national reserve asset, would the market explode? 💥
 
From now until July 27, there are only two weeks, and Bitcoin may be hyped up during this period! But remember, the best time to pull back is when good news comes out. 🕒
 
What do you think? Do you think Bitcoin can break a new high before the end of the month? See you in the comments! 👇

#比特币新高 #加密货币趋势 #投资预测 #技术分析