$BTC
BTC/USDT:
Daily Market Analysis
Upon reviewing the daily charts for Bitcoin, it is evident that BTC is currently testing the weekly resistance level. As we approach the close of today's trading session, a pivotal moment is upon us. Should the daily candlestick close above this key resistance, it is likely to signal a strong bullish momentum.
Following a potential pullback, we anticipate Bitcoin to stabilize within the $64,000 to $65,000 range before resuming its upward trajectory. The next significant target for Bitcoin would be the $84,000 mark, which represents an all-time high.
Key Levels:
Current Support: $65,100
Current Resistance: $68,000
BTC/USDT:
Daily Market Analysis
Upon reviewing the daily charts for Bitcoin, it is evident that BTC is currently testing the weekly resistance level. As we approach the close of today's trading session, a pivotal moment is upon us. Should the daily candlestick close above this key resistance, it is likely to signal a strong bullish momentum.
Following a potential pullback, we anticipate Bitcoin to stabilize within the $64,000 to $65,000 range before resuming its upward trajectory. The next significant target for Bitcoin would be the $84,000 mark, which represents an all-time high.
Key Levels:
Current Support: $65,100
Current Resistance: $68,000
#NZD/USD possible scenario
The analysis of the proprietary Bitcoin blockchain reveals that miners are starting to capitulate. The sooner this miner capitulation occurs, the sooner we can resume the bull run. Stay in the game.
With the recent decrease in Bitcoin's price and network hash rate, many miners are giving up. Following the recent halving, mining costs have risen while rewards have fallen, leading numerous miners to shut down their rigs. The Hash Ribbons index has issued a capitulation signal for miners. According to data from IntoTheBlock, Bitcoin miners have sold over 30,000 bitcoins (approximately $2 billion) since June, marking the fastest sale in more than a year.
In the last two days, Bitcoin has hovered near the critical weekly support level of $64,000, indicating its importance. While $63,500 served as weekend support, $64,000 has prompted a stronger price rebound. As the CME remains closed today and tomorrow, the weekly candle close above $64,000 could signal a price rise. However, a sudden drop to $62,000 followed by a rebound above $64,000 is also possible.
Key support: $64,000
Current resistance: $68,000
With the recent decrease in Bitcoin's price and network hash rate, many miners are giving up. Following the recent halving, mining costs have risen while rewards have fallen, leading numerous miners to shut down their rigs. The Hash Ribbons index has issued a capitulation signal for miners. According to data from IntoTheBlock, Bitcoin miners have sold over 30,000 bitcoins (approximately $2 billion) since June, marking the fastest sale in more than a year.
In the last two days, Bitcoin has hovered near the critical weekly support level of $64,000, indicating its importance. While $63,500 served as weekend support, $64,000 has prompted a stronger price rebound. As the CME remains closed today and tomorrow, the weekly candle close above $64,000 could signal a price rise. However, a sudden drop to $62,000 followed by a rebound above $64,000 is also possible.
Key support: $64,000
Current resistance: $68,000
The DXY chart indicates potential signs of an impending bearish trend. Should this materialize, it could result in a significant uptrend for cryptos such as Bitcoin, Ethereum, and Solana. Historically, a weakening dollar has often led to an increase in the value of these digital assets, potentially creating favorable market conditions for investors.