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Заголовок This Bitcoin Bullish Pattern Signals Rebound To $70,000 In Coming Days – Analyst
Дата 20240626

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This Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bullish Pattern Signals Rebound To $70,000 In Coming Days
Analyst

This Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bullish Pattern Signals Rebound To $70,000 In Coming Days
Analyst

by Godspower Owie

1 hour ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

In the midst of the general pessimism that surrounds the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта space
and Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin currently, famous crypto analyst and trader Doctor Profit has made
an audacious forecast that the crypto asset will rebound to the crucial
$70,000 level in the upcoming days.

Doctor Profit s analysis• Математика » Математический анализ which has triggered optimism within the crypto
community hinges on a bullish price formation that suggests a positive
reversal is imminent. The analyst offered this positive prediction• Математика » Прикладная математика » Прогноз in his
recent Big Sunday report.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin To Revist $70,000 Soon

According to Doctor Profit, since the last big Sunday report, in which he
identified a persistent sideways movement, nothing significant has changed for
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin. However, a falling wedge pattern has surfaced on smaller and daily
time frames, suggesting that $70,000 may be the next objective for the
flagship crypto in the coming days.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin To Soar By 40%: Analyst Predicts Strong Bullish Wave,
Here’s How

Doctor Profit is confident that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin will revisit the aforementioned level
due to the fact that a falling wedge pattern typically signals a strong upward
breakout. Despite recent price declines and broader pessimism, this pattern
indicates that the crypto asset could be ready for a significant rally.

The expert noted that this development corresponds with the liquidity pool
located between the $70,000 and $72,000 price levels. And for the first time
in weeks, the financing rate has started to look robust and steady at the same
time that the Long and Short ratio on exchanges is balanced.

Rally to $70,000 in the upcoming days | Source: Doctor Profit on X

He further pointed to strong fundamental indicators on BTC s chart and
on-chain data that prompted his belief of a significant increase in prices in
the Q3 and Q4 of this year. However, several bearish trends are developing on
the smaller time frames prompting Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin to lose several crucial support
lines, including the MA100 Daily, MA20 Daily, MA50 Daily, and EMA100 Daily.

The MA50 Daily, a key bull market indicator, broke down on Tuesday,
June 18th, and Two days later, BTC pumped towards the MA50 Daily level, only
to be rejected at $66,519, he stated. As a result, he is keeping an eye
out for a breakout from the falling wedge on the daily chart and a breakout
from the MA50 Daily level.

No Major Movements Before Q2 Closes

Should a breakout develop, the expert believes it might lead to a more
powerful rally than the previous ones, pushing BTC above the $72,000 mark in
the short term. Nonetheless, given the sideways movements of the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, Doctor Profit does not expect significant moves prior to Q3.
Thus, he has urged investors to keep a tight eye on the MA50 daily level and
any possible breakthroughs from the falling wedge formation.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bullish Turnaround: Analyst Predicts Greater Bull
Reversal, New ATH Looms?

In the previous Big Sunday report, the expert hinted at a liquidity pool
forming around $64,400. Now, he warns that the level has been hit and there is
hardly any liquidity left to take from the downside. BTC trading at $61,031 on
the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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