There is a good chance for the bullfight if Bitcoin falls at this level, and the analyst Benjamin Quinn warns
Benjamin Quinn, a widely encrypted currency analyst, says the BTC is likely to end if it enters the level of one key.
In a new video, Quinn Recount YouTube’s 886,000 subscribers may repeat that bitcoin is a similar pattern in 2017, when it tested the highest level in the previous year.
However, it warns that if Bitcoin decreases lower than the lowest level of 2024 at about 71,000 dollars and enter the range of $ 60,000, the bull cycle may end.
“In 2017, Bitcoin decreased in early 2017 when it tested the highest level of 2016. This happened, by the way, somewhat early. I would like to claim that this is a significant result to consider this session, as it tests the highest level of 2024, which is in less than 70,000 dollars …
If we are closed, especially if there is a fuse at $ 60,000, there is a good opportunity to finish the course. If it remains over the height of 2024, the party can continue easily. “
He also says that if Bitcoin maintains a scale of $ 70,000, the bull cycle is likely to remain intact, while anything less may lead to a declining price pattern of its highest level later in the year on the weekly chart.
If he has a support above $ 70,000, $ 73,000, [the] The market structure is good. If you go to $ 60,000, I claim that the most likely result will be higher than the macro in the Q2, Q3, and perhaps around it like the timeline of August. ”
Bitcoin is trading for $ 84.059 at the time of writing this report, an increase of 3.8 % in the past 24 hours.
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