{"id":609652,"date":"2024-05-25T01:00:02","date_gmt":"2024-05-25T01:00:02","guid":{"rendered":"https:\/\/wncen.com\/?p=609652"},"modified":"2024-06-11T06:59:02","modified_gmt":"2024-06-11T06:59:02","slug":"bitcoin-price-make-or-break-zon","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-make-or-break-zon\/","title":{"rendered":"Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch"},"content":{"rendered":"

The Bitcoin price is now back down to $67,000<\/a> after touching above $71,000 earlier in the week. Given the circumstances surrounding the price recovery and subsequent decline, it has led to crypto analysts breaking out the technical indicators to figure out where the price is headed next. One crypto analyst, in particular, has identified that the cryptocurrency has entered a crucial zone, with important levels to watch that could tell where the price is headed next.<\/p>\n

Bullish Scenario For Bitcoin<\/h2>\n

Presently, the break below $70,000 has sent the Bitcoin price into a perilous situation, making the current level just above $67,000 crucial to its next steps. Crypto analyst The Signalyst highlights<\/a> this in their latest Bitcoin analysis where they identified that the BTC price is at a \u2018make or break zone.\u2019<\/p>\n

Related Reading: Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto<\/a><\/div>\n

As The Signalyst points out, Bitcoin had been able to break above the accumulation level <\/a>between $60,000 and $62,000, which had allowed investors to get in. Despite its decline in the last day, the price has maintained its position in the upper bound of this range.<\/p>\n

For the bullish scenario to continuation, the crypto analyst explains that BTC must go ahead to break the upper bound of this range completely, which is the $72,000. This is the major resistance for bulls. If this happens, then The Signalyst believe that the Bitcoin price will move toward the next major resistance at $80,000<\/a>.<\/p>\n

\"Bitcoin
Source: Tradingview.com<\/figcaption><\/figure>\n

Bearish Scenario For BTC<\/h2>\n

Similarly the to bullish scenario, the bearish scenario for Bitcoin could possibility play out at this level. As the The Signalyst points out, even though the price is currently still in the upper bound of the range, it risks being brought down by bears.<\/p>\n

Related Reading: Pundit Predicts Shiba Inu Competitor Dogwifhat Will Reach $10 Amid Short liquidations<\/a><\/div>\n

In this case, the level to watch is the lower trend line<\/a>, which currently sits around $62,000. Much like the resistance at $72,000, the support at $62,000 is what bears must break to pull the price further down. If this scenario were to play out and the bears successfully broke the lower trend line, then the analyst\u2019s chart shows that the Bitcoin price could fall as low as $56,000<\/a>. This would mean an over 20% decline from its current price.<\/p>\n

BTC Price<\/p>\n

Currently, the Bitcoin price is still seeing some bullish momentum<\/a>, with its daily trading volume rising over 40% in the last 24 hours alone. This suggests that investors are still actively engaging<\/a> with the cryptocurrency, something that could drive the price higher.<\/p>\n

At the time of writing, BTC is hovering around $67,300, with a 3.29% loss in the last day, but still holding small gains of 1.68% on the weekly chart.<\/p>\n

\"Bitcoin
BTC price surges toward $68,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price is now back down to $67,000 after touching above $71,000 earlier in the week. Given the circumstances surrounding the price recovery and subsequent decline, it has led to crypto analysts breaking out the technical indicators to figure out where the price is headed next. One crypto analyst, in particular, has identified that the cryptocurrency has entered a crucial zone, with important levels to watch that could tell where the price is headed next. Bullish Scenario For Bitcoin Presently, the break below $70,000 has sent the Bitcoin price into a perilous situation, making the current level just above $67,000 crucial to its next steps. Crypto analyst The Signalyst highlights this in their latest Bitcoin analysis where they identified that the BTC price is at a \u2018make or break zone.\u2019 Related Reading: Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto As The Signalyst points out, Bitcoin had been able to break above the accumulation level between $60,000 and $62,000, which had allowed investors to get in. Despite its decline in the last day, the price has maintained its position in the upper bound of this range. For the bullish scenario to continuation, the crypto analyst explains that BTC must go ahead to break the upper bound of this range completely, which is the $72,000. This is the major resistance for bulls. If this happens, then The Signalyst believe that the Bitcoin price will move toward the next major resistance at $80,000. Bearish Scenario For BTC Similarly the to bullish scenario, the bearish scenario for Bitcoin could possibility play out at this level. As the The Signalyst points out, even though the price is currently still in the upper bound of the range, it risks being brought down by bears. Related Reading: Pundit Predicts Shiba Inu Competitor Dogwifhat Will Reach $10 Amid Short liquidations In this case, the level to watch is the lower trend line, which currently sits around $62,000. Much like the resistance at $72,000, the support at $62,000 is what bears must break to pull the price further down. If this scenario were to play out and the bears successfully broke the lower trend line, then the analyst\u2019s chart shows that the Bitcoin price could fall as low as $56,000. This would mean an over 20% decline from its current price. BTC Price Currently, the Bitcoin price is still seeing some bullish momentum, with its daily trading volume rising over 40% in the last 24 hours alone. This suggests that investors are still actively engaging with the cryptocurrency, something that could drive the price higher. At the time of writing, BTC is hovering around $67,300, with a 3.29% loss in the last day, but still holding small gains of 1.68% on the weekly chart. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":609684,"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":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-609652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch<\/title>\n<meta name=\"description\" content=\"The Bitcoin price is now back down to $67,000 after touching above $71,000 earlier in the week, marking an important 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch","url":"http:\/\/wncen.com\/news\/bitcoin-price-make-or-break-zon\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-make-or-break-zon\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_75e765.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_75e765.jpeg?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-05-25T01:00:02Z","datePublished":"2024-05-25T01:00:02Z","dateModified":"2024-06-11T06:59:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-make-or-break-zon\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-make-or-break-zon\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_75e765.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_75e765.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-05-25T01:00:02Z\",\"datePublished\":\"2024-05-25T01:00:02Z\",\"dateModified\":\"2024-06-11T06:59:02Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_75e765.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609652"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=609652"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/609684"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=609652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=609652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=609652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}