Crypto Expert Foresees Bitcoin's "Big Red Candle" as Potential Signal for Bull Market's Demise - Exploring His Prediction
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Market Data- Bitcoin: $94,816.00 3.31% (24h)- Ethereum: $1,829.21 3.67% (24h)- Altcoin: $604.91 1.44% (24h)- Stablecoin: $146.82 3.17% (24h)- DeFi Coin: $2.13 1.94% (24h)
analysis of the Day- Crypto Analyst Predicts Fresh Crypto Rallies: Led by Bitcoin, Says BTC Looking Strong and Healthy- Standard Chartered Predicts New Bitcoin All-Time High This Quarter: Report
Enriching Your Crypto Journey
Key Points from Checkmate's Analysis:- Bitcoin faces heavy selling pressure within the $93,000-$100,000 range, creating a critical resistance level.- Breaking this range is crucial for Bitcoin to continue the bull market.- Failure to breach the resistance could signal a bearish lower high, hinting at the end of the bull market and potential trend exhaustion.- Slight hesitation or choppy price action at current levels might point towards trend exhaustion.- High demand for Bitcoin ETFs remains, suggesting strong institutional interest despite near-term selling pressure.
Broader Price Forecast Context:- Other analyses based on similar on-chain metrics indicate a bullish outlook if momentum continues, with target ranges from $150,000 to $210,000.- On-chain models associated with Checkmate forecast a potential peak price for Bitcoin around $210,000 in the 2025 bull run.
- In this article, we delve into the analyst's prediction of fresh altcoin rallies, led by Bitcoin, as it is currently looking strong and healthy, a potential sign of continued growth in the cryptocurrency market.
- For those interested in investing, it's worth noting that the cryptocurrency finance landscape is vast, encompassing not just Bitcoin and Ethereum, but also a plethora of altcoins, DeFi coins, and stablecoins, all backed by the transformative power of blockchain technology.
