LIVE
😱🚀🚀 #Bitcoin On The Verge Of Upswing: New All-Time High Could Be Possible If This Resistance Is Broken, Analyst Says
While analysts are predicting potential volatility during Fed Chairman Jerome Powell's upcoming speech, cryptocurrency markets are on edge as Bitcoin hovers around the $61,500 level. Titan of Crypto, a well-known crypto trader, predicts that if Bitcoin rises above $ 61,500, it could increase significantly and reach $ 110,848.
Bitcoin's Next Target: $110,848 Dollar
Amid the ongoing market fluctuations, the crypto trader Titan of Crypto has pointed to a critical level that Bitcoin investors should watch closely. According to the chart analysis, Bitcoin's price of $ 61,500 is under scrutiny due to observed deviations that indicate a potential break.
Titan of Crypto predicts that if Bitcoin manages to surpass the $ 61,500 level, we could witness an increase in the price that could potentially reach $ 110,848. To measure the strength of any potential upward movement, it is important to observe Bitcoin's daily candle closing and the subsequent price movement.
Jerome Powell's Speech
This forecast comes amid broader market uncertainty, with investors closely following Federal Reserve Chairman Jerome Powell's speech today. Powell's remarks are expected to create ripples in financial markets and potentially affect Bitcoin and other cryptocurrencies.
Testing Key Support
Cryptocurrency analyst Michaël van de Poppe highlighted the important moments ahead of Bitcoin in a recent tweet and highlighted the critical price levels that will determine its next move. Meanwhile, Bitcoin is currently testing support around $60.5-61 thousand, and Decoupling above $63 thousand is very important for a potential rise towards an all-time high.
In addition, Van de Poppe suggests that a successful breaking of the $63k barrier could signal an upward trend and potentially push Bitcoin towards its previous all-time high. This scenario depends on Bitcoin's ability to exceed $ 63 thousand in the coming sessions.
LIVE