Crypto Analyst Predicts Bitcoin Surge: BTC Price Target $72K Amid Key Pattern

2024-7-19 17:30

In a YouTube analysis, crypto expert Crypto Rover shed light on Bitcoin’s market action. Rover’s examination focuses on a notable symmetrical triangle pattern emerging in Bitcoin’s price chart. This pattern, combined with additional technical indicators, hints at a potential imminent breakout.

Bitcoin recently dipped to $63,800 before rebounding. Interestingly, Rover points out that this price level, which acted as a barrier, now serves as support. The analyst puts focus on the $65K to $67K level, identifying it as a crucial mark Bitcoin must surmount to continue its upward trajectory.

Bitcoin (BTC) Price Prediction

On the daily timeframe, Rover identifies a falling wedge pattern. This technical formation is typically considered bullish. The analyst sets a price target between $72,000 and $73,000 based on this pattern.

Rover states, “Every single time once Bitcoin retests this exact level, we are seeing a massive rejection.” This observation portrays the significance of current support levels in predicting future price movements.

External Factors Influence Market Sentiment

Several external factors are contributing to Bitcoin’s market dynamics. Increased Tether (USDT) printing historically correlates with rising Bitcoin prices. Rover explains, 

“Tether is starting to print more money… more Tether getting printed means higher prices for Bitcoin.”

Additionally, inflows into spot Bitcoin ETFs indicate strong institutional interest. The approval and trading of the Ethereum ETF may also shift investments towards altcoins, potentially impacting Bitcoin’s market dominance.

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} Next Big Airdrop?.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

Notcoin airdrop on Telegram made millions to people. Don’t miss out on the next TG airdrop by the same team – Dogs on Ton!

Show more +Show less –

Read also: How Much Kaspa Coins Will You Need to Retire? KAS Price Stays Flat

Strategic Outlook and Trade Management

Rover maintains a bullish stance on Bitcoin’s future. He plans to hold his current Bitcoin trade until reaching a target of $72,000. The analyst also has further profit targets set at $88,000.

“This is literally the worst time to be fading Bitcoin,” Rover cautions. He believes the market is consolidating before making “the next exponential leg towards price discovery.”

Rover emphasizes the importance of patience and strategic entry points for traders. He advises utilizing support levels for optimal trade setups.

Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.

Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.

The post Crypto Analyst Predicts Bitcoin Surge: BTC Price Target $72K Amid Key Pattern appeared first on CaptainAltcoin.

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 19.117m EMD / 32m EMD

crypto bitcoin pattern rover price action market

Источник: captainaltcoin.com

crypto bitcoin → Результатов: 126


What Mark Carney’s Rise to Prime Minister Means for Bitcoin and Canada’s Crypto Future

Mark Carney, Canada’s new Prime Minister, has been a vocal opponent of Bitcoin for years. His stance could lead to tougher regulations and increased support for a digital Canadian dollar. Crypto investors, take note! The post What Mark Carney’s Rise to Prime Minister Means for Bitcoin and Canada’s Crypto Future appeared first on BeInCrypto.

2025-3-10 13:02


Report: Trump expected to announce Bitcoin reserve strategy at White House Crypto Summit

Howard Lutnick said Bitcoin would receive special status under US President Donald Trump’s proposed crypto reserve Lutnick believes that other crypto tokens will be “treated differently—positively, but differently” So far, 12 people within crypto have been invited to attend the Crypto Summit US President Donald Trump is expected to unveil a Bitcoin reserve strategy at […] The post Report: Trump expected to announce Bitcoin reserve strategy at White House Crypto Summit appeared first on CoinJournal.

2025-3-6 05:00


Фото:

Goldman Sachs “U-Turn”: Massive Increase in Bitcoin and Ethereum ETF Investments – A Crypto Market Signal?

Key Takeaways: Bitcoin and Ethereum ETF holdings of Goldman Sachs increased drastically. This is an indication that the traditional financial institutions see crypto as essential. Even though traditional finance initially The post Goldman Sachs “U-Turn”: Massive Increase in Bitcoin and Ethereum ETF Investments – A Crypto Market Signal? appeared first on CryptoNinjas.

2025-2-14 17:48


Фото:

Crypto’s winners and losers: who’s cashing in on the Bitcoin boom?

The cryptocurrency world is awash in new wealth as Bitcoin’s record-breaking climb above $90,000 propels the total value of digital assets past a staggering $3.2 trillion. Forbes estimates that 11 of the top crypto billionaires, whose holdings are predominantly liquid tokens and stocks, have collectively added $38 billion to their fortunes in 2024. Remarkably, $24 […]

2024-11-20 14:48


Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today?

This is turning out to be a great week for crypto. Bitcoin price just broke past the $60K level for the first time this month. In fact, remember how everybody was saying September is historically bad for crypto? We’re almost halfway through the month, and this is, for now, a “green” month since the BTC […] The post Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today? appeared first on CaptainAltcoin.

2024-9-14 00:52


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Pi Coin Price Prediction for Today (March 11)

Pi Coin price is now at $1. 39 after plunging 19% last week. But this shouldn’t be too worrying for holders since this coin is doing fairly well compared to other top altcoins. Just in the last 24 hours, Ethereum and DOGE both lost around 8% in value while Pi Coin price remained mostly flat.