{"id":460878,"date":"2021-04-09T20:00:34","date_gmt":"2021-04-09T20:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=460878"},"modified":"2024-06-11T09:38:57","modified_gmt":"2024-06-11T09:38:57","slug":"crypto-escape-velocity-bitcoin-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-escape-velocity-bitcoin-60k\/","title":{"rendered":"Crypto Analyst Expects \u201cEscape Velocity\u201d When Bitcoin Breaks $60K. Here\u2019s Why"},"content":{"rendered":"

Bitcoin price is still stuck under $60,000<\/a> but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.”<\/p>\n

Here’s what the term means and what that could look like post-breakout of the key resistance level.<\/p>\n

Bitcoin Could Reach Escape Velocity After Breaking Above $60,000<\/h2>\n

Bitcoin price action has come to a critical impasse, either ready to explode to hundreds of thousands of dollars per coin<\/a>, or about to take a dive from current highs.<\/p>\n

Resistance above $60,000 has been the first zone proving too strong for bulls to get through with ease, causing momentum to fizzle out. Momentum indicators have turned red<\/a> for the first time in months, but bears have failed to take prices much lower.<\/p>\n

Related Reading | Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up<\/a><\/strong><\/em><\/p>\n

The standoff has volume dropping, and volatility dipping to the lowest levels in months for the characteristically explosive crypto asset.<\/p>\n

But when things finally do break above $60,000, one crypto analyst<\/a> expects things to reach “escape velocity.”<\/p>\n

\"bitcoin<\/p>\n

This is what escape velocity could look like in Bitcoin | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
What The Physics Term Playing Out In Crypto Would Look Like<\/h2>\n
According to Wikipedia<\/a>, escape velocity is a physics term describing\u00a0“the minimum speed needed for a free, non-propelled object to escape from the gravitational influence of a massive body.” In simpler terms, its the strength and speed needed for an object to escape a planet’s gravitational pull and exit its atmosphere.<\/p>\n
The analogy makes sense. “Escape velocity rises with the body’s mass and falls with the escaping object’s distance from its center. The escape velocity thus depends on how far the object has already traveled,” a description reads.<\/p>\n
Essentially, $60,000 is the object’s center, and resistance should weaken once it is passed, requiring less overall momentum<\/a> to continue to head off toward the moon.<\/p>\n
Related Reading | Crypto CEO \u201cConvinced\u201d Of Bitcoin Cycle Top, Warns Of Sell Side Intensity<\/a><\/strong><\/em><\/p>\n
The reason being is, Bitcoin has attracted substantial media attention above $50,000 where the coin has now spent weeks above. Those waiting for a breakout of $60,000 will buy with extreme force knowing that any correction was warded off.<\/p>\n
At the same time, those waiting for prices lower<\/a> will realize it isn’t coming, and FOMO back into Bitcoin, causing prices to soar with even greater ease.<\/p>\n
Between the flurry of new buyers getting in for the first time, sellers buying back in after they’ve realized their mistake, and more, it should cause the final parabolic stage of the Bitcoin bull run, and the “escape velocity” the analyst is talking about.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still stuck under $60,000 but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.” Here’s what the term means and what that could look like post-breakout of the key resistance level. Bitcoin Could Reach Escape Velocity After Breaking Above $60,000 Bitcoin price action has come to a critical impasse, either ready to explode to hundreds of thousands of dollars per coin, or about to take a dive from current highs. Resistance above $60,000 has been the first zone proving too strong for bulls to get through with ease, causing momentum to fizzle out. Momentum indicators have turned red for the first time in months, but bears have failed to take prices much lower. Related Reading | Stablecoin Supply Rising, Diminishing Bitcoin Reserves Ready To Fuel Next Leg Up The standoff has volume dropping, and volatility dipping to the lowest levels in months for the characteristically explosive crypto asset. But when things finally do break above $60,000, one crypto analyst expects things to reach “escape velocity.” This is what escape velocity could look like in Bitcoin | Source: BTCUSD on TradingView.com What The Physics Term Playing Out In Crypto Would Look Like According to Wikipedia, escape velocity is a physics term describing\u00a0“the minimum speed needed for a free, non-propelled object to escape from the gravitational influence of a massive body.” In simpler terms, its the strength and speed needed for an object to escape a planet’s gravitational pull and exit its atmosphere. The analogy makes sense. “Escape velocity rises with the body’s mass and falls with the escaping object’s distance from its center. The escape velocity thus depends on how far the object has already traveled,” a description reads. Essentially, $60,000 is the object’s center, and resistance should weaken once it is passed, requiring less overall momentum to continue to head off toward the moon. Related Reading | Crypto CEO \u201cConvinced\u201d Of Bitcoin Cycle Top, Warns Of Sell Side Intensity The reason being is, Bitcoin has attracted substantial media attention above $50,000 where the coin has now spent weeks above. Those waiting for a breakout of $60,000 will buy with extreme force knowing that any correction was warded off. At the same time, those waiting for prices lower will realize it isn’t coming, and FOMO back into Bitcoin, causing prices to soar with even greater ease. Between the flurry of new buyers getting in for the first time, sellers buying back in after they’ve realized their mistake, and more, it should cause the final parabolic stage of the Bitcoin bull run, and the “escape velocity” the analyst is talking about. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":454335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-460878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nCrypto Analyst Expects \u201cEscape Velocity\u201d When Bitcoin Breaks $60K. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Expects \u201cEscape Velocity\u201d When Bitcoin Breaks $60K. 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