Crypto analyst Thescalpingpro outlines potential bullish and bearish scenarios for Bitcoin as it approaches a crucial weekly close. Key levels will determine whether Bitcoin continues its upward trend or faces further corrections.
Points
- Bitcoin has broken below a key range after 125 days of consolidation.
- A bullish scenario sees Bitcoin reclaiming $60,000, potentially pushing towards $70,000.
- A bearish scenario would see Bitcoin retracing to around $44,233.
- Analysts emphasize the $60,000 threshold as critical for market sentiment.
Crypto analyst Thescalpingpro has highlighted a critical juncture for Bitcoin （BTC） as it approaches a new weekly close. According to the analyst’s recent X post, Bitcoin has broken below a key range after 125 days of consolidation, implying that this could result in a significant change in the Bitcoin market.
#Bitcoin – Important weekly close
The weekly close for Bitcoin is crucial as the price has broken down below the range after 125 days of consolidation
https://twitter.com/thescalpingpro/status/1809871617432178924
The analyst outlines two possible scenarios for Bitcoin’s near-term price action. In a bullish case, if Bitcoin manages to reclaim the $60,000 level by the end of the week, it could invalidate the recent breakdown and potentially push towards $70,000. Conversely, a bearish scenario would see Bitcoin closing the week below $60,000, potentially leading to a retracement to around $44,233, the previous mid-range level.
Key Levels and Market Sentiment
The $60,000 threshold has emerged as a critical point of focus. Thescalpingpro suggests that while the current market bias leans slightly bearish with Bitcoin trading below this level, a reclamation of $60,000 could rapidly shift sentiment and drive prices higher.
This analysis aligns with other market observations. For instance, analyst Ali Martinez has stated that Bitcoin needs to reclaim and hold above $61,000 to resume its bullish trend.
#Bitcoin currently lacks significant support. The main key demand wall is around $47,000, and for the bull run to resume, $BTC must close and hold above $61,000. pic.twitter.com/9cD2otd4ZK
https://twitter.com/ali_charts/status/1809164726770761816
At the time of writing, Bitcoin is trading at $56,825 after failing to keep its position above the $57,000 level. The upward weekly closing will determine whether BTC can regain lost ground or head for further corrections downwards.
解説
- Bitcoin’s price movements are closely watched by analysts and investors, with key levels determining future trends.
- The $60,000 threshold is critical for bullish sentiment; reclaiming it could lead to significant gains.
- Conversely, failing to hold above this level could result in further corrections.
- Analysts use technical indicators like the Relative Strength Index （RSI） and Moving Average Convergence Divergence （MACD） to predict potential price movements.
- Investors should monitor these key levels and market sentiment to make informed decisions.