Analyst Reveals Condition For Bitcoin To Reach $71,000

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	11,814,541,066	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

11,814,541,066

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000518	-0.38%	0.134214	0.134301	0.134359

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000518

-0.38%

0.134214

0.134301

0.134359

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.135039	0.133963	0.134732	0.134732	0.071373 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.135039

0.133963

0.134732

0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	12:56:13	268.98	0.134214	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

12:56:13

268.98

0.134214

USD

Price x Volume	Volume	Base Symbol	Related Pairs
27,736.19	206,169.34	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

27,736.19

206,169.34

Analyst Reveals Condition For Bitcoin To Reach $71,000 – Details

21/07/2024 4:00am

NEWSBTC

According to data from CoinMarketCap, the price of Bitcoin returned above $67,000 with a 1.19% gain in the last 24 hours. Bitcoin appears to have found some stability in this region amidst multiple projections of further price gain. Interestingly, popular crypto analyst with X handle Rekt Capital has unveiled a particular scenario in which Bitcoin might actually build on its current positive performance. Related Reading: Crypto Analyst Says ‘Think Bigger’, Bitcoin Price Is Headed To $100,000 Bitcoin Enters New Range-Bound Market – Rekt Capital In an X post on July 20, Rekt Capital shared that Bitcoin closed its daily candle of the previous day above the support level of $65,000. According to the analyst, if BTC experiences a price dip to this level as seen in mid-May, a successful retest will allow the token to reignite its current price rally. Following the development of this projection, Rekt Capital predicts the crypto market leader could reach as high as $71,500, a price region last seen in early June. However, in a subsequent post, Rekt Capital suggests that Bitcoin may not record more gains past this level in the short term. Instead, BTC will enter a range-bound market between $65,000 – $71,500 which is expected to last through August. However, a potential breakout from this zone would likely result in the asset moving past its all-time high value of $73,750. Alternatively, the failure of $65,000 to serve as a strong support level may allow BTC’s price to fall to $60,000. In the presence of overwhelming selling pressure, as seen in the first week of July, BTC could further decline to around $56,000 – $58,000. At press time, the crypto market leader continues to trade at $67,394 with a 13.5% increase in the last seven days. Bitcoin’s price performance is now positive on all major time frames with gains of 4.05% and 125.27% in the last one month and twelve months respectively. Related Reading: Stalled USDT Liquidity Threatens Bitcoin Price Further Growth – Here’s Why ‘Smart’ Whale Maintains BTC Accumulation Pattern In other news, a “smart” crypto whale has been purchasing large portions of Bitcoin in recent days. According to an X post, the whale acquired 213.78 BTC (worth $14.48 million) on Saturday, bringing its total haul over the last four days to 677 BTC ($45.6 million). Notably, this trader is known for purchasing BTC at low prices and selling high, recording over $30 million in profit in two trades over the last year. With the “smart” whale currently in another accumulation phase, BTC may be headed for some major gains in the next few months. Featured image from The Independent, chart from Tradingview

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