Crypto analyst Ali Martinez Bitcoin has outlined what is needed to make it a success. climb to $76,000. He warned that if this doesn’t occur, the crypto-flagship could drop to levels that haven’t been seen since the beginning of the year.
Bitcoins Could Reach $76,000
Martinez is mentioned on X post Bitcoin is likely to reach $76,610, if $64,290 can be reclaimed as a support. If it does not rise above $64,290 then the analyst said that Bitcoin could retest $51,970 as support. Martinez reached this conclusion by examining MVRV (Market Value To Realized Value) The extreme price ranges showed the mean to be $51,970.
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Bitcoin is currently showing no signs of being able to regain $64,290. The flagship cryptocurrency is more likely to test the price of $51,970, as it looks to break down below $60,000. Bitcoin may appear to be in a negative outlook. crypto analyst Mikybull Crypto Bitcoin price is a bearish trend.
Twitter is now In An X postHe mentioned BTC as having a “simple retest to weary the impatient trader.” “Nothing bearish as bears seem to amplify it,” He added. He added. previously predicted Bitcoin is expected to reach $73,000 after it passes the $67,000 level.
BTC may soon resume its upward trajectory
Meanwhile, crypto analyst Rekt Capital Post-halving has revealed that Bitcoin is likely to be in the dark soon. “Danger Zone” The official end date is May 13th. Analyst had previously explained The Danger Zone was the decline that Bitcoin suffered approximately 21-days after the Halving of 2016.
Then there’s another X postThe analyst has revealed that Bitcoin Had repeated the “2016 history perfectly, offering a downside wick below the bottom of its current Re-Accumulation range within a three-week window after the halving.” With this correction behind us, we can expect the main crypto to move upwards.
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Rekt Capital has mentioned that the Reaccumulation phase usually happens after Bitcoin’s halving. According to the analyst, this time period typically lasts between three and five months. The crypto analyst said that the current time may be different, as this reaccumulation could develop around an new all-time high (ATH) area.
Rekt Capital has predicted that Bitcoin may not fall below $60,000 again. The price of Bitcoin is expected to remain above $60,000 for the foreseeable future. claimed A weekly Bitcoin close of $60,600 “would solidify the price as a baseline for the Re-Accumulation range.”
BTC currently trades at $61,100. This is up by about $2,300 in the last day, according to data CoinMarketCap.
BTC Bulls Fail to Hold $63,000 | Source: BTCUSD on Tradingview.com
The chart is from Tradingview.com.
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Source: www.newsbtc.com
