Bitcoin (BTC) is recognised as the world's first truly digitalised digital currency (also known as a cryptocurrency). The Bitcoin price is prone to volatile swings; making it historically popular for traders to speculate on. Follow the live Bitcoin price using the real-time chart, and read the latest Bitcoin news and forecasts to plan your trades using fundamental and technical analysis.
Bitcoin price contemplates a potential reversal after dipping into the weekly imbalance zone extending from $59,111 to $53,120.
On-chain and social metrics forecast a potential involvement from whales buying the dips.
A successful recovery rally could send BTC beyond the current all-time high of $73,949 and towards $80,000.
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Also read: Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000
Bitcoin price crashes by double digits
Bitcoin price has dipped into the weekly imbalance, extending from $59,111 to $53,120, as mentioned in previous FXStreet publications, flashing a buy signal. But investors will likely get cold feet after a 15% crash in the past ten days.
The recent dip into the aforementioned imbalance cleared the collected sell-side liquidity resting around the equal lows of $59,111, allowing sidelined buyers to accumulate. For a recovery rally to kick-start, BTC needs to form a base at around $60,000 and bounce back to the 2021 high of $69,138.
Breaching the declining resistance level and connecting the lower highs formed since March 14 will confirm a breakout and the restart of a bullish trend. This development could propel BTC to a new all-time high (ATH) and eventually to the next key psychological level of $80,000.
Bitcoin price contemplates a potential reversal after dipping into the weekly imbalance zone extending from $59,111 to $53,120.
On-chain and social metrics forecast a potential involvement from whales buying the dips.
A successful recovery rally could send BTC beyond the current all-time high of $73,949 and towards $80,000.
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Also read: Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000
Bitcoin price crashes by double digits
Bitcoin price has dipped into the weekly imbalance, extending from $59,111 to $53,120, as mentioned in previous FXStreet publications, flashing a buy signal. But investors will likely get cold feet after a 15% crash in the past ten days.
The recent dip into the aforementioned imbalance cleared the collected sell-side liquidity resting around the equal lows of $59,111, allowing sidelined buyers to accumulate. For a recovery rally to kick-start, BTC needs to form a base at around $60,000 and bounce back to the 2021 high of $69,138.
Breaching the declining resistance level and connecting the lower highs formed since March 14 will confirm a breakout and the restart of a bullish trend. This development could propel BTC to a new all-time high (ATH) and eventually to the next key psychological level of $80,000.
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