$BTC - Some analysts predict the next moves of Bitcoin. This is what we will learn together within the latest digital currency news updates.
Bitcoin prices are testing major resistance levels. As we anticipate the next moves of Bitcoin, there are two scenarios that could affect the price path of Bitcoin in the near term, but market analysts are pointing to a possible bullish move for Bitcoin soon.
At the time of writing, Bitcoin has tested the $69,000 threshold, a significant level after a long period of consolidation. The markets, which are confined within tight ranges, should eventually see a breakout. Historical data suggests that various bullish signals could increase tradersâ risk appetite in the coming weeks. This leads to the question: What is the outlook for cryptocurrencies?
Predicting Bitcoin's Next Moves
In a recent market review, Crypto Fella discussed two possible scenarios for Bitcoin. Enthusiastic traders are still waiting for new investors to enter the market, which requires a few months of impressive upward trends. Exciting days should be on the horizon when everyone feels like an investment genius, encouraging more capital to flow in.
Predicting Bitcoin's Next Moves
In anticipating Bitcoinâs next moves, the analyst highlighted the massive inflow into ETF channels:
â$BTC Update â Over $2B entered Bitcoin ETFs last week, with 31,600 BTC. We are gradually preparing for a bull flag breakout. To me, there are two possible scenarios:
Scenario 1: We see a relatively slow rise, testing the support line of the bullish flag structure. We will move higher when the elections are held.
Scenario 2: We race towards another psychological resistance at $70k. We will retest and head straight for ATH.â
Kyle, while predicting Bitcoinâs next moves, notes that short-term investors are signaling exhaustion. If such a shift occurs, a test of the $70,000 level in the coming days would not be surprising.
Predicting Bitcoin's Next Moves
âShort-term investors are signaling potential fatigue, having stopped cashing out after selling their holdings. If this trend continues, they may shift gears and start accumulating, which could ease price pressure.
Predicting Bitcoin's Next Moves
Among the Bitcoin next moves predictions Bitcoin will reach 100,000 Jelle clearly points to Bitcoin (BTC) price direction at $68,763 today. The analyst mentions that due to the recovery of support, the focus could shift towards the six-digit Bitcoin price. If Jelle is right, we will soon see BTC surpass the recent ATH price of $73,777 and move higher.
