Bitcoin is looking positive, but the up move is likely to face stiff resistance above $72,000.
Price Analysis News
Price analysis is the ongoing process of cryptocurrency traders and analysts finding patterns in the market to determine optimal trading strategies and gauge market sentiment for the cryptocurrency market at large or for specific assets such as Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC), etc.
The two main indicators that are sought after are whether or not the market is bullish with upward-trending price action or bearish with downward pressure on price.
Price analysis techniques vary and are often used in unison to provide as detailed a perspective of market conditions as possible. Traders may analyze a cryptocurrency’s volume in relation to its price or use candlestick charts to gauge market sentiment on a daily basis.
The tools and techniques of price analysis are ultimately the means of spotting patterns at the micro and macro levels as indicators of overall industry growth.
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Four market experts assess the current state of the Bitcoin market and where it is heading next.
6369Bitcoin has risen above $70,000, indicating that the bulls are back in the driver’s seat.
5099Bitcoin bulls attempt to establish control over BTC price, a move that could benefit DOGE, TON, STX and FTM.
5192Young Ju noted that new BTC whales have an on-chain cost basis of around $56,000 and expects substantial capital influxes into the spot Bitcoin ETF market if BTC dips to this price level.
60088Bitcoin is struggling to sustain its recovery, signaling that higher levels are attracting sellers in BTC and altcoins.
8395Bitcoin and altcoins are starting to recover, but traders will watch closely to see if higher levels induce selling.
8367In Cointelegraph’s latest in-depth video, experts analyze five altcoins that could form a strong crypto portfolio for 2024.
4528Crypto traders are struggling to hold Bitcoin price above $68,000, and altcoins are suffering as a result of BTC's weakness.
6774Bitcoin recovered the $68,000 level, triggering buying in NEAR, APT, RNDR and MKR.
7454Bitcoin is showing the first signs of profit booking, but the bears are struggling to hold the price below $69,000, indicating buying at lower levels.
14366According to Glassnode, BTC market sentiment is approaching the “euphoria” stage amid consecutive all-time highs.
12639The crypto market rally is starting to show signs of exhaustion, but Bitcoin and altcoin charts highlight traders' desire to continue buying each dip.
8915Bitcoin is showing no signs of slowing down as demand for the spot Bitcoin ETFs remains robust. Can altcoins keep pace?
10761OP, TAO, STX, MNT and other altcoin charts flash bullish signs as Bitcoin attempts to recapture the $70,000 level.
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