Future

Parabolic

Bull Flag

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-movements-2/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Movements</a> 
BTC price is lingering at $69,470 while altcoins remain relatively calm. Friday’s decline is not continuing. After rapid sales in altcoins, we had a quiet weekend. What do <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> expect for cryptocurrencies after the recent drop in <a href="https://en.coin-turk.com/bitcoin-etfs-set-to-propel-btc-to-record-highs/" data-wpel-link="internal">Bitcoin</a> price? What are the predictions for the next step? 
<h2 style="text-align: justify" id="bitcoin-expert-predictions">Bitcoin Expert Predictions</h2> 
Crypto analyst Rekt Capital seems relatively moderate and hopeful for a rise. However, another analyst known by the pseudonym Nunya Bizniz questions the adequacy of the 23% drop from the March peak by comparing it with other cycles. Breaking the resistance is a significant achievement, but there are doubts about a relentless rise from here. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360899 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/nunya-btc-tahmin.png" alt="" width="995" height="751"> 
Rekt Capital examined the sober chart, noting the transformation of support and resistance in the ongoing uptrend and wrote: 
<blockquote> 
 “Bitcoin achieved a historic technical success by turning an old resistance area into a new major support. Since then, Bitcoin has developed a Re-Accumulation Range resembling a Bull Flag trend continuation pattern at these high levels. Bitcoin continues to consolidate in the Post-Halving Re-Accumulation Range.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360900 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/rekt-btc-analiz.png" alt="" width="1268" height="817"> 
The analyst confirms that the levels of $58,600 to $61,300, which challenged the bulls in 2021, now support the bulls, indicating an upward trend in the monthly chart. 
<blockquote> 
 “The highest resistance of the range is ~$71,500. The low range support is $60,600. Currently, Bitcoin is not yet ready to enter the Parabolic Phase of the cycle.” 
</blockquote> 
According to the analyst, although the uptrend remains firmly in place, it will take some more time to reach real peaks. 
<h2 style="text-align: justify" id="what-about-crypto-whales">What About Crypto Whales?</h2> 
In the latest research published by the popular on-chain analysis platform CryptoQuant, Caue Oliveira wrote that large-volume BTC investors are focusing on medium-term gains. 
<blockquote> 
 “Unlike convinced Bitcoin investors trying to create long-term reserves, whales usually chase medium-term profits. We can easily detect this behavior through the monthly change in Bitcoin reserves of entities holding more than 1,000 BTC.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360901 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/cryptoquant-btc-yorum.png" alt="" width="1657" height="878"> 
<blockquote> 
 “Note that there is an accumulation and distribution pattern directly affecting pricing. After the intense distribution period in March, institutional investors have started the re-accumulation process in the last two weeks.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-movements-2/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Movements</a></h5>

Analysts Predict Bitcoin’s Future Movements

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