At this point, the analyst stated that nine of the committee members expect at least one interest rate hike this year, and six expect two or more, painting a negative picture for $BTC.
Adler also argued that for the downtrend to stabilize and become neutral, $BTC needs to remain in the $64,000 to $65,000 range, supported by significant trading volume.
Similarly to Axel Adler, popular analyst Ali Martinez also pointed to $64,000 for Bitcoin.
According to Martinez, if Bitcoin holds the $64,000 support level, the next target will be $69,000.
The analyst stated that he is closely watching the $64,000 support level in Bitcoin, noting that $BTC is currently showing short-term strength by forming an ascending channel, with the lower support line around $64,000.
He added that if this channel holds, the next targets could be the channel’s middle line at $66,800 and the upper resistance line at $68,800.
Lastly, leading cryptocurrency analyst Michaël van de Poppe also pointed to the $64,000 level for Bitcoin.
He identified $64,000 as a key variable that will determine the future direction of Bitcoin and the market.
The analyst argued that if $BTC fails to hold the $64,000 support level, it could test lower lows, but if it maintains that level, the next target range could be between $74,000 and $79,000.
He even added that this rise in Bitcoin could support an altcoin bull run.
The analyst also noted, citing the $BTC/Gold ratio and the RSI indicator, that Bitcoin is currently showing a pattern similar to its historical lows.
*This is not investment advice.
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