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Analyst sets Bitcoin path between $48K and $67K; What is next for BTC?

Analyst sets Bitcoin path between $48K and $67K; What is next for BTC? WikiBit 2024-07-10 23:26

The Bitcoin (BTC) market has recently witnessed significant selling pressure, pushing prices down to $53,500 amid a large-scale sell-off by the German

If Bitcoin manages to reclaim and hold above the $58,400 level, a retest of the $60,000 to $60,700 range is highly probable. The price action within this range will be pivotal in determining the next significant move for BTC.

Should Bitcoin break and hold above the $60,700 resistance level, it is likely to continue its upward trajectory towards the $67,000 zone.

Bitcoin 7-day price chart. Source:

The next move for Bitcoin hinges on its ability to reclaim and hold above the $58,400 level and the price action within the $60,000 to $60,700 range.

Traders should monitor these levels closely, alongside the upcoming U.S. CPI and PPI data, to gauge the markets next direction.

A breakout above $60,700 could pave the way to $67,000 and higher, while a failure to hold above $58,400 could lead to a retest of the $48,185 support level.


The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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