Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,303,028,563,419	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,303,028,563,419

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-336.76	-0.51%	66,302.24	66,302.24	66,302.25

Price Change

Price Change %

Current Price

Bid Price

Offer

-336.76

-0.51%

66,302.24

66,302.25

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,871.74	66,240.12	66,624.22	66,639.00	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

66,871.74

66,240.12

66,624.22

66,639.00

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:27:59	0.000448	66,302.24	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:27:59

0.000448

66,302.24

USD

Price x Volume	Volume	Base Symbol	Related Pairs
50,900,686.29	764.86	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

50,900,686.29

764.86

Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch

25/05/2024 2:00am

NEWSBTC

The Bitcoin price is now back down to $67,000 after touching above $71,000 earlier in the week. Given the circumstances surrounding the price recovery and subsequent decline, it has led to crypto analysts breaking out the technical indicators to figure out where the price is headed next. One crypto analyst, in particular, has identified that the cryptocurrency has entered a crucial zone, with important levels to watch that could tell where the price is headed next. Bullish Scenario For Bitcoin Presently, the break below $70,000 has sent the Bitcoin price into a perilous situation, making the current level just above $67,000 crucial to its next steps. Crypto analyst The Signalyst highlights this in their latest Bitcoin analysis where they identified that the BTC price is at a ‘make or break zone.’ Related Reading: Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto As The Signalyst points out, Bitcoin had been able to break above the accumulation level between $60,000 and $62,000, which had allowed investors to get in. Despite its decline in the last day, the price has maintained its position in the upper bound of this range. For the bullish scenario to continuation, the crypto analyst explains that BTC must go ahead to break the upper bound of this range completely, which is the $72,000. This is the major resistance for bulls. If this happens, then The Signalyst believe that the Bitcoin price will move toward the next major resistance at $80,000. Bearish Scenario For BTC Similarly the to bullish scenario, the bearish scenario for Bitcoin could possibility play out at this level. As the The Signalyst points out, even though the price is currently still in the upper bound of the range, it risks being brought down by bears. Related Reading: Pundit Predicts Shiba Inu Competitor Dogwifhat Will Reach $10 Amid Short liquidations In this case, the level to watch is the lower trend line, which currently sits around $62,000. Much like the resistance at $72,000, the support at $62,000 is what bears must break to pull the price further down. If this scenario were to play out and the bears successfully broke the lower trend line, then the analyst’s chart shows that the Bitcoin price could fall as low as $56,000. This would mean an over 20% decline from its current price. BTC Price Currently, the Bitcoin price is still seeing some bullish momentum, with its daily trading volume rising over 40% in the last 24 hours alone. This suggests that investors are still actively engaging with the cryptocurrency, something that could drive the price higher. At the time of writing, BTC is hovering around $67,300, with a 3.29% loss in the last day, but still holding small gains of 1.68% on the weekly chart. Featured image created with Dall.E, chart from Tradingview.com

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