 ▲ Bitcoin (BTC) |
Bitcoin (BTC), which temporarily approached the $69,900 level after the announcement of the U.S. Consumer Price Index (CPI), fell again on the 13th (local time) as the U.S. Federal Reserve showed a hawkish attitude. did.
Cointelegraph, a cryptocurrency media outlet, reported the forecast that $69,000 is an important point in terms of breaking through the Bitcoin range.
Trading platform Material Indicators argued that whale forces could play a role in influencing Bitcoin's price volatility. He said through
In addition, he pointed out $69,000 as an important section for Bitcoin price support, saying, “The price conversion will be verified at $69,000. Until then, it will be traded in a limited section,” he added.
However, an analyst working under the pseudonym Altcoin Sherpa raised a bullish forecast that the cryptocurrency will rally at least 48% compared to this year's trading price within the year.
According to the Daily Issue, he said, “Bitcoin’s price range was formed at $56,000 and its all-time high of $73,600. “Any price movement between $56,000 and $73,600 is not very significant,” he argued.
While analyzing Bitcoin's short-term outlook, he mentioned that the 200-day exponential moving average (EMA) based on the 4-hour chart is an important point that will determine the direction of Bitcoin's price. He said, “If it breaks the 200-day EMA, it will serve as a support line. Conversely, if it fails to break through, the 200-day EMA will become a resistance line.”
