bitcoin-price-left-danger-zone/” rel=”nofollow”>Cryptocurrency analyst Rekt Capital has provided insight into bitcoin's future trajectory. According to his analysis, the flagship cryptocurrency might not be ready yet for its next leg up, which could see it bitcoin-bullish-pattern-signals-rebound-to-70000/” rel=”nofollow”>to rise back above $70,000.
bitcoin is not yet ready to establish $65,000 as new support
bitcoin-danger-zone-in-2-days-crypto-expert-explains-what-this-means/” rel=”nofollow”>Capital Rekt claimed on an x (formerly twitter) x.com/rektcapital/status/1813633249627050288″ rel=”nofollow”>mail that bitcoin is not quite ready for a successful retest of the $65,000 level as new support yet. For the cryptocurrency to establish $65,000 as the new support level, the analyst claimed that it would need a retest similar to the one that happened sometime in May earlier this year. bitcoin-whos-dumping-their-coins-and-why/” rel=”nofollow”>Capital RektThis will confirm a break towards the $65,000 to $71,500 region.
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bitcoin settling into the $65,000s is crucial as that will also confirm that the downtrend is over as the flagship cryptocurrency is still at risk of falling into the $60,000 range while still below $65,000. Meanwhile, as Rekt Capital x.com/rektcapital/status/1813506506773627069″ rel=”nofollow”>notedbitcoin holding above the $65,000 support would mean that it is ready to reconsider its bitcoin-must-hold-above-70000-for-bullish-momentum/” rel=”nofollow”>Previous high above $70,000.
bitcoin's surge above $70,000 and all the way to $71,500 will inspire confidence among investors that bitcoin-bull-market-glassnode/” rel=”nofollow”>confinement is on the move again. Cryptocurrency expert Michael van de Poppe had already said before Outstanding The $70,000 range as the level bitcoin must break above to surpass its current level. bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>All-time high (ATH) from $73,750.
Cryptocurrency analyst Altcoin Sherpa also x.com/AltcoinSherpa/status/1813543830001758528″ rel=”nofollow”>Recently Featured Three scenarios that could play out for bitcoin from its current price level. He claimed that the flagship cryptocurrency could drop to $63,000 and “pump back,” drop to $60,000 and pump back, or drop to $60,000 while enjoying some relief bounces and then “die” after dropping to $60,000. However, the analyst is more hopeful that bitcoin will simply break through this level without any pullback and rally to $70,000.
What to expect from btc in the latter parts of the cycle
bitcoin-price-crashed-58000/” rel=”nofollow”>Cryptocurrency Analyst Dann crypto shared his expectations for bitcoin in the final parts of bitcoin-bull-market-glassnode/” rel=”nofollow”>This bullfightHe claimed that bitcoin will enjoy a boost towards the US presidential election due to the easy narrative of a potential crypto-policy-trump-vice-president-pick/” rel=”nofollow”>President and Vice President of cryptoHe expects this rally to also happen thanks to a potential top-level drawdown and simply “general enthusiasm” after bitcoin has been range-bound for about four months.
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Daan crypto also alluded to the ethereum-etfs-to-launch-in-8-days/” rel=”nofollow”>ethereum Spot ETFdescribing them as a “wild card” as they could “accelerate the rally,” but it all depends on how much demand these ETFs have. Once this bitcoin rally is over, Daan crypto expects the market to experience another local high and this is likely to happen during the new year.
The cryptocurrency analyst predicts that the final rally of this bullish trend will come in the second half of 2025, as part of the 4-year cycle. Daan crypto noted that this 4-year cycle has always worked and there is no reason why it should not work this time. He warned market participants not to get hung up on a particular target, as bitcoin-cycle-peak-usdt-dominance/” rel=”nofollow”>Market top for bitcoin and instead advised them to be fluid.
Featured image created with Dall.E, chart from Tradingview.com
