Bitcoin is poised for a potential 30 shift Can it hit 48000 or 90000

Josh, an analyst in the world of cryptocurrency, recently shared his insights on Bitcoin’s current price trajectory in his latest video analysis. Despite the current market conditions, Josh remains optimistic about Bitcoin’s overall trend. He pointed out that a signal has emerged nearly a month ago, hinting at an imminent shift in Bitcoin’s price.

This anticipated move could happen at any moment. It could lead to a 30% increase or decrease in Bitcoin’s value, ranging from $48,000 to $90,000. To determine the direction of this movement, one must keep an eye out for a breakthrough above the resistance levels or a drop below the support levels. Given the prevailing bullish trend, a positive movement seems more likely.

Looking ahead, what can we expect for Bitcoin? A closer look at the daily chart reveals that Bitcoin is currently moving within a volatile sideways range, with support levels at $67,000 to $68,000 and resistance levels at $72,000 to $74,000. This suggests a relatively neutral short-term outlook. A break above $72,000 to $74,000, nearing the all-time high, would signal a continuation of the bullish trend, hinting at a significant upward surge.

Meanwhile, the 3-day Bitcoin chart displays a potential inverse head and shoulders pattern, a bullish indicator if it surpasses the neckline around $71,700. Confirmation of this breakout, preferably with a 3-day candle closing above $73,000 to $74,000, could set a bullish target of $86,000 to $87,000.

But what if the bears take control? If Bitcoin drops below $67,000, it may further decline to the $63,000 to $64,000 range. A breach below this level, particularly below $60,000 to $61,000, would signify a bearish trend, potentially dragging Bitcoin down to approximately $50,000.

Furthermore, the daily chart highlights a temporary rebound in the US Dollar Index (DXY), which could spell bearish implications for Bitcoin and other cryptocurrencies in the short term. Historically, a bullish DXY trend tends to be unfavorable for Bitcoin and crypto assets, while a bearish DXY trend is typically beneficial for them.

In conclusion, Josh’s analysis sheds light on the intricate dynamics of Bitcoin’s current price movements, offering valuable insights for investors and enthusiasts alike.

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