Bitcoin price prediction: $55.5K or $70K for its next impulse move?
After a brief recovery above $65K, Bitcoin's price retreated slightly, with recent liquidations remaining modest compared to earlier large-scale sell-offs. Analysts note fragile market conditions, citing negative ETF flows and lack of specific Bitcoin demand. However, the Bitcoin Regime Score, which combines several market metrics, indicates a modestly bullish short-term outlook for the second consecutive week.
From a technical perspective, Bitcoin's price action is at a critical juncture. The higher timeframe trend remains bearish, with $65,260 acting as a key resistance level. The analysis suggests a potential continuation of the downtrend toward $55,560 or even $51,934 in the coming weeks, unless the price closes above $67,292 on a 4-hour chart. An alternative scenario could see a rally up to $77,489 before the larger bearish trend resumes.
ambcrypto07/17 04:32