Bitcoin (BTC) Market Shakes Off Mt. Gox Fears, Analyst: Expect Bitcoin To Range Between $75,000 And $95,000

After concerns early this week, Bitcoin has rebounded sharply at spot rates. At the time of writing, the world's most valuable coin is up 20% from

Bitcoin price analysis reveals bullish momentum as the world’s leading digital asset rebounds sharply at spot rates, emerging from lows hit on July 2024.

At the time of writing, BTC is trading at $69,333 after gaining over 20% from lows around $53,500. This upsurge began on July 25 and has seen Bitcoin rally non-stop for the past four days.

As covered recently, traders now anticipate a clear breakout past $70,000, followed by a possible spike up to $72,000. At this level, traders expect a strong reaction from bears, setting up a fierce battleground.

Bitcoin price analysis: What to expect next

Analyst X highlighted the next “hated” zone for Bitcoin after piercing clear of $72,000. According to X, as Bitcoin rallies another 30% from all-time highs, which will be breached around $74,000, traders should expect the next range to be between $75,000 and $95,000.

“75k – 95k will be the next hated zone. BTC would’ve broken ATH (around 74k, last March), and the crowd will not be as generous to bears as it is now. Enjoy the bull while it lasts, as the upcoming four to six weeks will be interesting.”

Bitcoin price analysis reveals bullish momentum as the world’s leading digital asset rebounds sharply at spot rates, emerging from lows hit on July 2024. At the time of writing, BTC is trading at $69,333 after gaining over 20% from lows around $53,500. This upsurge began on July 25 and has seen Bitcoin rally non-stop for the past four days.

As covered recently, traders now anticipate a clear breakout past $70,000, followed by a possible spike up to $72,000. At this level, traders expect a strong reaction from bears, setting up a fierce battleground.

Bitcoin price analysis: What to expect next

Analyst X highlighted the next “hated” zone for Bitcoin after piercing clear of $72,000. According to X, as Bitcoin rallies another 30% from all-time highs, which will be breached around $74,000, traders should expect the next range to be between $75,000 and $95,000.

“75k – 95k will be the next hated zone. BTC would’ve broken ATH (around 74k, last March), and the crowd will not be as generous to bears as it is now. Enjoy the bull while it lasts, as the upcoming four to six weeks will be interesting.”

Crucial levels to watch

The precise timeline for Bitcoin to reach the next key levels remains uncertain. However, traders should be prepared to wait until bulls clear the roadblock at $72,000 and all-time highs.

After breaching this level once before in March 2024, Bitcoin price action stalled and corrected sharply, leading to massive losses. Now, as the world’s leading digital asset attempts another breakout, it is crucial to note the significance of this price point.

Looking at price action between March and July, it is evident that buyers, though in charge, struggled. The correction from around $74,000 to $53,500 in early July represented a nearly 27% dip, one of the deepest when the market rallied.

However, as Bitcoin price fell to lows of $53,500, buying pressure emerged swiftly, leading to a four-day rally without any pullbacks. Thisịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịpịp

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