Bitcoin In Peril? Expert Warns Of China’s Alleged Scheme To Crash BTC To $40,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. As Bitcoin (BTC) attempts to stabilize above the crucial $80,000 support level, a new warning from market analyst Leviathan has raised concerns about an alleged strategy by China that could significantly impact the leading cryptocurrency. China’s ‘Secret’ Bitcoin Strategy In a recent post on X (formerly Twitter), Leviathan claimed that China plans to sell off its Bitcoin holdings, potentially driving the price down to $40,000. According to the analyst, this move is just the beginning of a broader scheme. Despite the Chinese government’s public stance against cryptocurrency trading, local authorities have found a workaround, he alleges. The expert asserts that they have been quietly cashing in on confiscated Bitcoin, which has led to an “underground fiscal strategy” that operates in “legal ambiguity.” Related Reading Currently, Chinese authorities are reported to hold approximately 194,000 BTC, making them the second-largest government holder of Bitcoin, just behind the United States. Leviathan highlights that while the Chinese government publicly denounces cryptocurrency, it simultaneously benefits financially from its underground sales. Local governments are reportedly improvising their strategies, with some engaging private tech firms to liquidate the confiscated Bitcoin on offshore exchanges. Others, allegedly maintain a more “clandestine approach.” The expert provides an example of a relatively unknown company in Shenzhen, Jiafenxiang, that has allegedly facilitated over $400 million in crypto sales on behalf of various city governments, converting the proceeds into yuan and transferring the funds back to local finance departments. Hong Kong Emerges As Potential Haven For China’s Confiscated BTC In 2023, China witnessed a record surge in crypto-related crimes, with over $59 billion tied to illegal activities and more than 3,000 money laundering cases prosecuted. Amidst this backdrop, local governments are increasingly reliant on the revenue generated from fines and confiscations — a significant portion of which comes from liquidated cryptocurrencies. However, the need for funds is at odds with the government’s public anti-crypto stance, forcing officials to offload coins abroad through intermediaries while hoping for minimal interference from Beijing. There have been discussions among judges, lawyers, and police about the need for a consistent national policy regarding seized cryptocurrencies. Some have proposed that the central bank take control over these assets, while others have suggested establishing a sovereign crypto fund. Related Reading Leviathan has pointed to Hong Kong, which, with its more favorable legal framework for cryptocurrencies, has emerged as a potential destination for China’s Bitcoin stockpile. This situation presents a unique challenge for China, as the contradiction between its public denouncement of cryptocurrencies and its private profit from them becomes increasingly apparent. As the US moves toward legitimizing cryptocurrencies at the federal level, including discussions on strategic reserves under President Donald Trump and his ongoing support for crypto, China may find itself compelled to respond, the expert asserts. Ultimately, Leviathan said that the fate of China’s 194,000 Bitcoin holdings will not only shape national policies but could also send ripples across the global financial landscape. The daily chart shows BTC’s surge above $84,000. Source: BTCUSDT on TradingView.com At the time of writing, BTC trades at $84,800, registering a 5% surge in the weekly time frame. Featured image from DALL-E, chart from TradingView.com
Bitcoin Price Gears Up for Next Leg Higher—Upside Potential Builds
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price is slowly moving higher above the $83,500 zone. BTC must clear the $85,200 resistance zone to continue higher in the near term. Bitcoin found support at $83,200 and started a recovery wave. The price is trading above $84,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,200 zone. Bitcoin Price Eyes Fresh Upside Bitcoin price started a fresh decline below the $86,200 and $85,500 levels. BTC even declined below the $84,00 level before the bulls appeared. The price tested the $83,200 support. A low was formed at $83,171 and the price recently started a recovery wave. The price climbed above the $84,500 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. Besides, there was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $84,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $85,200 level. It is near the 61.8% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. The first key resistance is near the $85,500 level. The next key resistance could be $86,500. Source: BTCUSD on TradingView.com A close above the $86,500 resistance might send the price further higher. In the stated case, the price could rise and test the $87,200 resistance level. Any more gains might send the price toward the $88,800 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,200 resistance zone, it could start another decline. Immediate support on the downside is near the $84,500 level. The first major support is near the $84,000 level. The next support is now near the $83,200 zone. Any more losses might send the price toward the $82,500 support in the near term. The main support sits at $81,800. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $84,500, followed by $83,200. Major Resistance Levels – $85,200 and $85,500.
Bitcoin Price To Break $125,000 But Sell Everything In October, Analyst Warns
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin’s price action in recent weeks has been mostly highlighted by a trading range between $80,000 and $85,000, with a struggle to reclaim buying pressure. Despite the current lack of a strong bullish momentum, many crypto analysts are banking on a bullish continuation and a new Bitcoin price all-time high before the end of 2025. According to crypto analyst TradingShot, Bitcoin could be approaching the final leg of this bull cycle, predicting a peak above $125,000. However, this analysis comes with a caveat that an extended bear market might roll in by October 2025. Long-Term Bitcoin Cycles Hint At Imminent Peak TradingShot’s analysis, which was posted on the TradingView platform, is based on over a decade of symmetrical Bitcoin market behavior that shows both bull and bear cycles unfolding in consistent timeframes. According to TradingShot, the bull cycles dating back to 2015 have all lasted approximately 1,064 days, or 152 weeks, with each cycle topping out almost exactly three years after the previous bottom. On the other hand, bear cycles have consistently lasted for around one year, either from December to December or November to November. Related Reading This historical symmetry is reflected in the chart below, which highlights three bull cycles followed by three bear periods, all forming a repeating pattern. The most recent bottom, recorded on November 7, 2022, marked the start of the current bull cycle. If this pattern holds, Bitcoin could reach its next peak in the week of October 6, 2025. Source: Tradingshot on Tradingview The bull cycle has led to Bitcoin breaking above $100,000 and now with an all-time high of $108,786, but like many others, the analyst predicted this peak will still be broken this year. This peak will likely mirror the explosive rallies that ended the 2017 and 2021 cycles and eventually surpass $125,000. Sell Everything In October 2025, Buy Back In October 2026 TradingShot’s primary advice is blunt but strategic: sell everything by October 2025. According to the analyst, this window could be the final opportunity to exit near the top before the next bear cycle takes hold. Counting 1064 days from the most recent bottom of $15,600 in November 07 2022, gives a time estimate for the next cycle top on October 6 2025. If history repeats itself, the subsequent bearish phase will likely last for 12 months and bottom out around October 12, 2026, before the next bull phase. This timing is not speculative; it’s based on a consistent one-year bearish phase across three full market cycles. Therefore, it would be better to sell before October 2025 and start accumulating by October 2026. At the time of writing, Bitcoin is trading at $84,500, up by 0.9% in the past 24 hours and 48% away from the predicted peak of $125,000. BTC trading at $84,350 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin Price Range-Bound—But a Move Higher May Be Brewing?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price started a fresh decline below the $85,500 zone. BTC is now consolidating and might attempt to clear the $85,200 resistance zone. Bitcoin started a fresh decline below the $85,500 zone. The price is trading below $85,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $84,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,000 zone. Bitcoin Price Eyes Fresh Increase Bitcoin price struggled near the $86,500 zone and started a fresh decline. BTC declined below the $85,500 and $85,000 levels to enter a short-term bearish zone. The price tested the $83,200 support. A low was formed at $83,171 and the price recently corrected some losses. There was a move above the $83,800 level. The price surpassed the 50% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low. Bitcoin price is now trading below $85,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,750 level. There is also a connecting bearish trend line forming with resistance at $84,800 on the hourly chart of the BTC/USD pair. The first key resistance is near the $85,150 level or the 61.8% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low. The next key resistance could be $85,500. Source: BTCUSD on TradingView.com A close above the $85,500 resistance might send the price further higher. In the stated case, the price could rise and test the $85,800 resistance level. Any more gains might send the price toward the $86,400 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,000 resistance zone, it could start another decline. Immediate support on the downside is near the $83,900 level. The first major support is near the $83,200 level. The next support is now near the $82,200 zone. Any more losses might send the price toward the $81,500 support in the near term. The main support sits at $80,800. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $83,200, followed by $82,200. Major Resistance Levels – $84,750 and $85,150.
Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Bitcoin price appears to be moving in lockstep with a bullish prediction made by a crypto analyst earlier this month. According to the analyst’s forecast, Bitcoin is set to break out to a new all-time high above $120,000 following the announcement of a temporary tariff pause by United States (US) President Donald Trump. $120,000 Bitcoin Price Forecast In Motion Kaduna, a crypto analyst on X (formerly Twitter), has released a follow-up analysis on his previous bullish prediction of Bitcoin, highlighting that it is playing out as expected. On April 11, the analyst predicted that Bitcoin was preparing for a massive push above $120,000. Related Reading He outlined a thesis that the 90-day suspension of President Trump’s Tariffs would act as a powerful macroeconomic catalyst for Bitcoin. Kaduna argued that the market may start “frontrunning” about a month early, culminating in a mini bull market during a 55-day “exit window” between April 3 and June 3 2025. Accompanying this bullish analysis was a detailed chart comparing Bitcoin’s price movements through candlesticks with a blue overlay, believed to represent a macroeconomic indicator such as global M2. The blue line in the chart projects a steady climb during this window, offering a clear visual target above $120,000. Kaduna had stated that if his prediction played out, he would exit most positions by the end of the window. Just days after his bullish forecast, Bitcoin has begun mirroring the projected path. Kaduna revealed in a follow-up candlestick chart that Bitcoin is breaking above the local resistance at $84,000 with strong volume support, aligning with the predicted overlay. This early strength suggests that the frontrunning behaviour the crypto expert projected earlier is now playing out in real time. Source: Kaduna on X The blue line suggests a potential move toward the $120,000 – $125,000 range over the next month and a half, setting a clear upside target if momentum continues. Bitcoin’s price action is also unfolding right on cue within the 55-day window, validating the analyst’s bullish thesis. Both the overlay and Bitcoin’s prices are trending upwards, signaling that the market is indeed reacting to the macroeconomic tariff catalyst. If this trajectory holds, it would mark a significant validation of the analyst’s macro-technical analysis approach. Update On The Bitcoin Price Action Following its crash below $80,000, the Bitcoin price seems to be on a path to recovery. CoinMarketCap’s data reveals that Bitcoin is currently trading at $83,395, marking a significant 7.16% increase over the past week. Related Reading The cryptocurrency had broken the resistance level at $84,000 earlier this week. However, it retraced sold gains and is now trading at its present market value. Given its fluctuating price and unstable market, crypto analysts like Tony Severino have revealed that he is neither bullish nor bearish on Bitcoin. Instead, he seems to be taking a wait-and-see approach, closely monitoring how the market responds to ongoing volatility driven by the US Trade war and tariff implementation. BTC trading at $83,865 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
Is The Bitcoin Open Interest Too High Or Can The BTC Price Still Rally?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Bitcoin open interest has remained on the high side despite the price declines, suggesting that interest in the leading cryptocurrency by market cap remains abundant. This interest is no doubt a good thing for the crypto market, especially in the long-term. But looking back at previous trends involving the Bitcoin open interest, it is concerning that the value is still so high and this could hinder a recovery for the Bitcoin price from here. Bitcoin Open Interest Still Above $56 Billion Data from the Coinglass website shows that the Bitcoin open interest is still quite high and not far off from its November 2024 highs after the BTC price hit a new peak above $109,000. This consistently high open interest signifies traders still taking considerable positions in the digital asset despite its price falling over 20% since then, something that could be a hindrance to recovery. Related Reading The total Bitcoin open interest is currently sitting at $56.17 billion, falling approximately 22% from its all-time high of $71.85 billion. This shows a close correlation between how much the price has fallen compared to the open interest. However, the open interest remaining this high could have some negative implications for the BTC price and the crypto market by extension. Source: Coinglass For example, looking at the chart above, it is obvious that Bitcoin has seen its largest moves upward when the open interest has been low. This suggests that the lack of market pressure gives bulls the space to push the price upward. Hence, with the open interest still so high, it could be much harder to push the price higher. Given this, the BTC price could see further decline before there is more recovery from here. BTC Price Crash Below $70,000 Imminent? Besides the Bitcoin open interest remaining high, a crypto analyst has also given reasons why the BTC price could see a crash from here. The first factor given is the fake bullish divergence. According to the analysis, the RSI may be showing a bullish divergence but the price action isn’t following it. Hence, this could lead to a bull trap, pulling traders into losses as the price crashes. Related Reading Another factor given is the fact that the Bitcoin price has broken a trendline support after falling to the low $80,000s. This suggests that bullish momentum is weakening and the recent recovery might not hold. Source: TradingView Given the factors listed above, the crypto analyst expects the Bitcoin price to fall another 20% from here. The target is placed at $69,149, which is an all-time high from 2021. “This level coincides with the intersection of the mid-channel support line and horizontal price structure,” the analyst explains. BTC bulls fail to pull up prices | Source: BTCUSD on TradingView.com Featured image from Dall.E, chart from TradingView.com
Bitcoin Price Fails To Launch With $751 Million In Outflows, Are Institutions Cashing Out?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Bitcoin price continues to face headwinds, as the latest report on Digital Asset Fund Flows shows a staggering $751 million in outflows from the digital asset. The sheer volume of this withdrawal raises alarm bells about whether institutions may be cashing out from the flagship cryptocurrency. Bitcoin Price Faces Pressure Amid Massive Outflows CoinShares’ weekly report on Digital Asset Fund Flows has disclosed a massive $795 million in outflows from the crypto market—shockingly, $751 million of which came from Bitcoin alone. This mass exodus marks one of the largest single-week outflows of the year, and it comes at a time when the price of Bitcoin has hit a wall. Related Reading James Butterfill, the Head of Research at CoinShares, revealed that since early February 2025, digital asset investment products have suffered cumulative outflows of approximately $7.2 billion, effectively erasing almost all the year-to-date inflows. Notably, this week marks the third consecutive week of declines, with Bitcoin leading the downturn and recording the most significant losses among major digital assets. As of this report, net flows for 2025 have dwindled to a modest $165 million, a sharp drop from a multi-billion dollar peak just two months ago. This steep decline underscores a cooling sentiment among institutional investors and highlights a growing sense of caution amid ongoing market volatility. Source: Chart on CoinShares Currently, the Bitcoin price is struggling to regain past all-time highs, with recent outflows serving as one of the many barriers hindering the cryptocurrency’s breakout potential. Until these outflows reverse and the market stabilizes, Bitcoin’s path to setting new all-time highs remains challenged. Despite losing $751 million in outflows, Bitcoin still maintains a moderately positive position with $545 million in net year-to-date inflows. However, the sheer scale and speed of the latest outflows raise concern. The fact that Bitcoin suffered such a massive withdrawal signals a potential shift in sentiment among institutions. Whether it’s due to profit-taking or macroeconomic uncertainty, this move suggests that big players are beginning to pull out — at least in the short term. In addition to Bitcoin, Ethereum saw $37 million in outflows, while Solana, Aave, and SUI also posted losses of $5.1 million, $0.78 million, and $0.58 million, respectively. Surprisingly, even short Bitcoin products, designed to benefit from market downturns, weren’t spared, recording $4.6 million in outflows. Tariffs And Political Volatility Drive Outflows One of the key drivers behind the pullback across digital assets is the rising economic uncertainty sparked by tariff policies that have adversely influenced investor sentiment. The wave of negative sentiment began in February after United States (US) President Donald Trump announced plans to impose tariffs on all imports coming into the country from Canada, Mexico, and China. Related Reading However, a late-week rebound in crypto prices was seen after Trump’s temporary reversal of the controversial tariffs, providing a brief respite for the market. This policy shift helped boost total Asset Under Management (AUM) across digital assets from a low of $120 billion on April 8 to $130 billion, marking an 8% recovery. BTC trading at $85,711 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin Price Forecast: What Experts Anticipate Following The Jump Toward $85,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. As Bitcoin (BTC), the leading cryptocurrency, reclaims the crucial $85,000 mark on Monday, top analysts are projecting heightened volatility in the market for the coming week. Bitcoin Eyes Key Liquidity Zones Above $90,000 Crypto analyst CrypNuevo provided insights in a recent update on social media site X (formerly Twitter), emphasizing that despite the chaos surrounding tariffs and potential market manipulation, there are key data points and trends to monitor. The analyst highlighted the importance of liquidity and price action in the days ahead, noting that liquidations are primarily concentrated in the upside range between $90,000 and $91,500—psychological levels for many traders. With Bitcoin gaining 7% on the weekly time frame, potential for a move to tackle these liquidity zones might be expected, further recovering from the cryptocurrency’s crash toward $74,000 experienced last week. Related Reading CrypNuevo also mentioned that the current liquidation delta is relatively balanced, with approximately $15 billion in long positions at maximum liquidity. He suggested that a threshold of over $25 billion in liquidations would warrant closer attention. The analyst’s ideal scenario for the coming week involves price compression between the daily and weekly 50-day exponential moving averages (EMA), as of now placed at approximately $86,000, which could lead to a significant expansion in price. Rising Wedge Formation Analysts often look for patterns in market behavior, and CrypNuevo speculated that a third retest could occur, following the market’s tendency to move in threes. The analyst alleges that this would further compress prices, potentially leading to a more aggressive breakout later on. He identified a key mid-range support line at $81,000, suggesting that while this scenario may be slightly less likely, it remains a possibility. BTC’s mid-range support line on the 4-hour chart. Source: CrypNuevo on X Another prominent analyst, Ali Martinez, echoed these sentiments on social media, identifying the critical support level for Bitcoin at $82,024, where approximately 96,580 BTC were previously accumulated. Related Reading This zone could be of key support for the cryptocurrency in case of CrypNuevo’s scenario of further retests taking place in the coming days for BTC’s price. However, Ali Martinez also pointed out on social media that BTC may be forming a rising wedge pattern, which could indicate a potential retest of the $79,000 support level. The daily chart shows BTC’s price surge above $85,000. Source: BTCUSDT on TradingView.com While Bitcoin (BTC) is currently trading at $85,000, it still remains over 21% below its all-time high of $109,000, which was reached in January of this year. However, with the current market sentiment indicating a renewed sense of bullishness, this gap may close rapidly over the course of the month. Featured image from DALL-E, chart from TradingView.com
Bitcoin Price Eyes Bullish Continuation—Is $90K Within Reach?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price started a fresh increase above the $83,500 zone. BTC is now consolidating gains and might attempt to clear the $85,500 resistance. Bitcoin started a fresh increase above the $83,500 zone. The price is trading above $83,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $84,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,500 zone. Bitcoin Price Eyes More Gains Bitcoin price started a fresh increase above the $82,500 zone. BTC formed a base and gained pace for a move above the $83,000 and $83,500 resistance levels. The bulls pumped the price above the $84,500 resistance. A high was formed at $85,850 and the price recently started a downside correction. There was a move below the $84,000 support. The price dipped below the 23.6% Fib retracement level of the upward move from the $78,600 swing low to the $85,850 high. However, the bulls were active near the $83,000 zone and the price recovered losses. Bitcoin price is now trading above $83,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $84,200 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $85,000 level. The first key resistance is near the $85,500 level. The next key resistance could be $86,200. A close above the $86,200 resistance might send the price further higher. In the stated case, the price could rise and test the $87,500 resistance level. Any more gains might send the price toward the $88,000 level. Another Rejection In BTC? If Bitcoin fails to rise above the $85,500 resistance zone, it could start another decline. Immediate support on the downside is near the $84,200 level and the trend line. The first major support is near the $83,200 level. The next support is now near the $82,200 zone and the 50% Fib retracement level of the upward move from the $78,600 swing low to the $85,850 high. Any more losses might send the price toward the $81,500 support in the near term. The main support sits at $80,800. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $84,200, followed by $83,500. Major Resistance Levels – $85,500 and $85,850.
Bitcoin Price Forms This Bullish Pennant On Daily Chart That Could Trigger Rise To $137,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Crypto analyst Titan of Crypto has raised the possibility of the Bitcoin price rallying to as high as $137,000. The analyst highlighted a bullish pattern that shows the flagship crypto can reach this ambitious price target. Bitcoin Price Could Rally To $137,000 As Bullish Pennant Forms In an X post, Titan of Crypto suggested that the Bitcoin price could reach $137,000 at some point. This came as he revealed that BTC has formed a bullish pennant on the daily chart. The analyst remarked that if this plays out, a new all-time high (ATH) could be reached, regardless of the current market sentiment. Related Reading His accompanying chart showed that $137,129 was the target for the Bitcoin price as it eyes a rally to new highs. The analyst indicated the key was to see if the flagship crypto could break to the upside in the coming weeks. In the meantime, BTC looks to be facing a lot of resistance and bearish pressure. Source: Titan of Crypto on X In his Ichimoku cloud analysis of the Bitcoin price action, the analyst stated that BTC is now facing resistance with a fair gap value and entry into the Kumo cloud. He outlined two scenarios that could play out for the flagship crypto. The first is a continuation through the cloud, while the second is a retest of the Kijun and the trendline before continuation. His accompanying chart indicated that the key was to break above the range of around $84,000. A successful breakout from this range could lead to a rally to as high as $92,000. This could eventually pave the way for the Bitcoin price to rally to new highs, especially with the psychological $100,000 level in sight once BTC reclaims $92,000. Key Resistance At $86,000 In an X post, crypto analyst Ali Martinez revealed that $86,000 is a key resistance zone for the Bitcoin price. He stated that a rejection from this zone could send BTC back to $79,000. However, a breakout might open the path for the flagship crypto to rally to as high as $97,000. Related Reading Crypto whales are still actively accumulating BTC, which is positive for the Bitcoin price. Martinez revealed that 37,000 BTC have been withdrawn from exchanges in the past 24 hours, which the analyst noted is a strong signal of accumulation. Crypto analyst Kevin Capital believes that the Bitcoin price structure is still bearish for now. In an X post, he stated that a break above $89,000 would mean BTC is back in action. Until then, he asserted that there is no real reason to get overly hyped at the current level. At the time of writing, the Bitcoin price is trading at around $84,600, up in the last 24 hours, according to data from CoinMarketCap. BTC trading at $84,709 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin Price Rises Steadily—But Can the Rally Hold This Time??
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price started a fresh increase above the $82,500 zone. BTC is now consolidating gains and might attempt to clear the $85,850 resistance. Bitcoin started a fresh increase above the $83,200 zone. The price is trading above $82,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $84,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,500 zone. Bitcoin Price Rises Again Bitcoin price started a fresh increase above the $81,500 zone. BTC formed a base and gained pace for a move above the $82,500 and $83,200 resistance levels. The bulls pumped the price above the $84,500 resistance. A high was formed at $85,850 and the price recently started a downside correction. There was a move below the $84,500 support. The price dipped below the 23.6% Fib retracement level of the upward move from the $78,600 swing low to the $85,850 high. However, the price remained stable above $82,200. Bitcoin price is now trading above $82,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $84,500 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $85,500 level. The first key resistance is near the $85,850 level. The next key resistance could be $86,500. A close above the $86,500 resistance might send the price further higher. In the stated case, the price could rise and test the $88,000 resistance level. Any more gains might send the price toward the $88,800 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $84,200 level. The first major support is near the $82,200 level and the 50% Fib retracement level of the upward move from the $78,600 swing low to the $85,850 high. The next support is now near the $81,200 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $84,500, followed by $82,200. Major Resistance Levels – $85,500 and $85,800.
Bitcoin Price Climbs Above $85,000 As Open Interest Surges 16% In Past Day
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.