Bitcoin

<ul><li>Bitcoin’s $60,000 level may flip from resistance to support, influencing potential bullish trends.</li><li>Bitcoin could dip to $40,000 before reaching $100,000, based on historical patterns and current indicators.</li><li>Current indicators show a neutral RSI and bullish MACD, suggesting Bitcoin’s future could lean positive.</li></ul>Bitcoin’s price trajectory has long been a focal point of market speculation and analysis. As of press time, <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is trading around $60,836.76, showing a 2.81% increase over the past 24 hours. This recent rise comes as Bitcoin tests a critical resistance level. Analyst Cryptoknight’s recent study of Bitcoin’s technical indicators shed light on whether Bitcoin might experience a &#34;max pain&#34; scenario, potentially dipping to $40,000 before reaching the $100,000 mark.Cryptoknight’s weekly price chart suggests that between 2020 and 2023, Bitcoin demonstrated significant price patterns. The $30,000 to $40,000 range emerged as a crucial support zone. This level repeatedly served as a safety net during market pullbacks, with Bitcoin bouncing back whenever it approached this range. Conversely, the $60,000 level posed a strong resistance. Bitcoin tested this level multiple times, forming a double top pattern in 2021, which led to a notable market correction.<a href="https://cryptotale.org/will-bitcoin-dip-to-40000-before-hitting-100k-insights/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Will Bitcoin Dip To $40,000 Before Hitting $100K? Insights

CryptoTale

Other articles published on Aug 14, 2024

Exodus wallet posts 80% rise in Q2 revenue with $9.6M in losses

BTC Miners Ramp Up Operations Hinting A Potential Market Rebound

Stocks to Watch Today: Alphabet, Cardinal Health, and Kellanova

Analyst Issues Bitcoin Price Warning

Bitcoin Prices Surge and Drop Rapidly

Google debuts new AI features for Android devices at ‘Made by Google’

Join our free newsletter for daily crypto updates!