Bitcoin is slowly leaving another week behind when it tested the $32,000 support. In this saadollarser, where the price is trading around $34,000, there are key levels that investors should watch out for in the coming weeks. We examine the key levels that crypto experts are sharing for the coming weeks…
Bitcoin (BTC) has critical levels in both directions
Since Wednesday, Bitcoin has slumped from its weekly high of $35,000 to the $32,000 support. At the same time, the leading crypto, which lost close to $2,000 in saadollarser, found its strongest support above $32,000. The price has been moving between $35,000 for about a week, with a low of $31,000. The most curious question of investors is, will $30,000 be broken? Or will $35,000 be surpassed? Is happening. The analyst’s comments for Bitcoin, which has not moved more than 1% in the last 24 hours, are as follows.
According to the analyst, although the leading crypto can maintain these levels at the moment, it should surpass $35,000 early next week. However, stating that BTC has low trading volume, the analyst said that spot trading volume fell by 42.7% in June and derivative volumes were 40%. He adds that he followed with 7 drops. At the same time, the recent Bitcoin mining pressure witnessed during this period combined with low volatility has made the market quite stagnant. Crypto markets have also started a new month, generally following the same trend. The most critical levels of this period were the “retracement level of about $33,000 to $34,000”, as the analyst said. Bitcoin’s annual cycle should also be taken into account.
Bitcoin cycle can take years, according to analyst
On this subject, Craig Johnson, Piper Sandler’s chief market tech, recalls in an interview with CNBC that Bitcoin is holding back more than 45% at $64,000. It also highlights the previous two cycles that lasted 1000 days:
You should be prepared to close the lids and wait for it to solidify for a while before you start the next ascent.
Additionally, Bill Baruch, Chairman of Blue Line Capital, who shared his thoughts with CNBC, explains that he and many other investors are keen on the $25,000 position to accumulate more Bitcoin. Baruch states that he will definitely invest under $ 30,000 with the sentence “Give me Bitcoin at $25,000 and I will buy more.” Also, these statements come despite his own open position at $32,000. For this reason, $25,000 becomes a must-visit spot for Baruch before he reaches the peaks he is aiming for.
BTC can be moved easily if it is a single move
Since the mining pressure of China, which we reported as , both positive and negative recent developments have failed to affect Bitcoin. One of them was Square’s recent confirmation that it is developing a hardware wallet. This move of the company was set to encourage investors, but what was planned did not materialize. Last but not least, the GBTC unlocking at the end of this month will be one of the big tesdollars, but experts still cannot agree on whether it will affect fiadollars.