Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/josh-analyzes-bitcoins-current-price-trend/" data-wpel-link="internal">Josh Analyzes Bitcoin’s Current Price Trend</a><br></p>
<p style="text-align: justify">Crypto World’s Josh analyzed Bitcoin’s (BTC) current price trend and expressed a positive outlook despite current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a>. He emphasized that a significant signal that emerged about a month ago indicates an imminent major move in Bitcoin’s price.</p> 
<h2 style="text-align: justify" id="strong-30-break-prediction-strong"><strong>30% Break Prediction</strong></h2> 
<p style="text-align: justify"><strong>Josh</strong> believes this move could happen at any moment, potentially leading to a 30% break in Bitcoin’s value. According to the analyst, the expected break could drop the price to around $48,000 or raise it to approximately $90,000. The direction of this move depends on whether Bitcoin breaks above its resistance or falls below its support levels, with a larger upward trend indicating a more likely upward move.</p> 
<p style="text-align: justify">Currently, <strong>BTC</strong> is trading choppily and mostly sideways on the daily chart, moving between a support area of $67,000 to $68,000 and a resistance area of $72,000 to $74,000. This indicates a neutral short-term outlook. According to Josh, a break above the $72,000 to $74,000 range, which is near the all-time high, will likely signal a significant upward move, indicating the continuation of the bullish trend.</p> 
<h2 style="text-align: justify" id="strong-potential-inverse-head-and-shoulders-formation-strong"><strong>Potential Inverse Head and Shoulders Formation</strong></h2> 
<p style="text-align: justify">The 3-day timeframe Bitcoin price chart shows the formation of a potential inverse head and shoulders pattern, a bullish formation. For this pattern to be confirmed, Bitcoin needs to break above the neckline around $71,700. Ideally, this break would be confirmed with a 3-day candle close above $73,000 to $74,000, which could push the price to the $86,000 to $87,000 level.</p> 
<p style="text-align: justify">Conversely, if Bitcoin falls below the support level at $67,000, it could drop to the $63,000 to $64,000 range. This secondary support, particularly a drop below the $60,000 to $61,000 level, would indicate a bearish trend, pulling Bitcoin’s price down to around $50,000.</p> 
<p style="text-align: justify">Josh also noted that the <strong>US Dollar Index</strong> (DXY) made a short-term bounce, which could signal a bearish trend for Bitcoin and the overall <a href="https://en.coin-turk.com/key-events-in-may-could-impact-bitcoin-and-crypto-market-trends/" data-wpel-link="internal">cryptocurrency market</a>. Typically, an upward trend in the DXY is associated with a bearish trend for Bitcoin and altcoins, while a downward trend in the DXY generally means a bullish trend for the cryptocurrency market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/josh-analyzes-bitcoins-current-price-trend/" data-wpel-link="internal">Josh Analyzes Bitcoin’s Current Price Trend</a></h5>

Josh Analyzes Bitcoin’s Current Price Trend

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