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<p>Bitcoin’s price action has been marked by shifts, hitting multiple target zones within a single day. As Zen, a crypto analyst, <a href="https://x.com/WiseAnalyze/status/1801172088377561582" target="_blank" rel="noopener noreferrer nofollow">highlights, Bitcoin’s price movement</a> has been erratic, similar to gold’s behavior.&nbsp;</p>
<p>Moreover, the primary support zone for Bitcoin now ranges between $66,240 and $67,577. To maintain a bullish outlook for the summer, Bitcoin needs to close above June’s opening price. Otherwise, it risks dropping to the lower range of $59,000 to $62,000 in the coming weeks.</p>
<h3 class="wp-block-heading" id="strong-bitcoin-btc-price-analysis-strong"><strong>Bitcoin (BTC) Price Analysis</strong></h3>
<p>According to Zen’s analysis, Bitcoin’s price needs to stay above certain key levels to sustain its bullish momentum. The critical support levels include $66,240, $65,760, $64,233, and $59,960. If Bitcoin fails to hold these levels, it may face further declines.&nbsp;</p>
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<p>Conversely, the resistance levels that Bitcoin must break through include $69,200, $69,870, $70,680, and $72,240. The upper trendline is currently acting as resistance, with highs failing to break above it. This indicates a challenging environment for bulls to push the price higher.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/heres-why-curve-dao-crv-price-plunged/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Here’s Why Curve DAO (CRV) Price Plunged</em></strong></a></p>
<h3 class="wp-block-heading" id="strong-trend-analysis-and-market-sentiment-strong"><strong>Trend Analysis and Market Sentiment</strong></h3>
<p>Zen’s trend analysis shows Bitcoin forming a descending triangle pattern, a typically bearish signal. However, a breakout above the descending trendline could reverse this trend. The Fear and Greed Index (F&amp;G) fluctuates between 70 and 75, indicating a moderate level of market anxiety.&nbsp;</p>
<p>The analyst advises traders to watch for acceptance above the year VWAP VAH to confirm a bullish scenario. Recent rejections at this level have kept Bitcoin’s price in check, underscoring the importance of this technical indicator.</p>
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<h3 class="wp-block-heading" id="strong-btc-price-prediction-strong"><strong>BTC Price Prediction</strong></h3>
<p>For traders, understanding these key support and resistance levels is crucial. Bullish traders should look for a confirmed breakout above the descending trendline with strong volume. This could signify a buying opportunity, targeting levels around $72,240.&nbsp;</p>
<p>On the other hand, bearish traders might anticipate a breakdown below the $66,240 support level. This could signal further declines, potentially leading to lower buying opportunities.</p>
<p>Bitcoin’s price action remains volatile, with support and resistance levels in play. The descending triangle pattern suggests a bearish outlook, but a breakout could shift momentum. As Zen emphasizes, Bitcoin’s performance in the coming weeks will be crucial in determining its trend for the rest of the summer.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-prediction-will-72k-target-trigger-summer-rally-analyst-warns-of-these-key-btc-levels/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: Will $72K Target Trigger Summer Rally? Analyst Warns of These Key BTC Levels</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Prediction: Will $72K Target Trigger Summer Rally? Analyst Warns of These Key BTC Levels

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