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Bitcoin: Will Low Volume Push Price to $61,000?

Bitcoin (BTC) has lost momentum over the past two days, raising concerns among analysts, and traders. The leading cryptocurrency is currently trading sideways, lacking the strong volume needed to break through key resistance levels.

Low trading volume often precedes price dips, and if we don't see a surge in buying pressure soon, we could see Bitcoin revisit the $61,000 area.

The $63,000 price point has proven to be a significant hurdle for Bitcoin in recent weeks. Without a significant increase in trading volume, I believe a price correction towards the $61,000 support level is a strong possibility.

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Getting close to $61k, But How is Bitcoin going to react after reaching it, will it going to move up or pull down?
What do you guys think?

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Bingo. $61k area reached 🎯🎯🎯

Let's see how things look from here.

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Struggling to breakout at resistance

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Is Bitcoin ready to fly from here?

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Breaking a red arc, heading to $64,100+

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Is this scenario going to work?
Will Bitcoin close above $64,600 to run upward or pull back to $57k?

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The price reached $67,000 as indicated by the chart above. Will it break out from to ascend towards $71k, or will it retract back to the \$60k region?

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Approaching the $68,000 resistance zone (between $67,000 and $68,000), once it surpasses this level, we may see it reach $70,000 to $71,000.

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The target reached $68,000m If closes above this price, $71,000 is my next target.

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My target price of $71,000 reached

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$67,300 incoming, hopefully by end of the week

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As predicted, Bitcoin reached the $66,500 - $67,300 range last week. Now, I'm confident that Bitcoin will reach $70,000+ soon!

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Currently at resistance struggling here, if over pass this price, we see $70k, otherwise, back to $68k -

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We have reached $70k as anticipated in my post from yesterday. If volume continues to grow, we will see $71k to $73k. otherwise back to $68k to

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The update from the last post appears to be working perfectly. There's strong support at $67,400. If the price closes above $68,600, which is currently a resistance level, we could see resistance at prices ranging from $69,200 to $70,100.

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Price rejected right before closing above $68,600. there was short liquidation leverage at a price $SWB:69K - $68k

Incoming $66,300

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The $67,400 support level is holding strong. We've observed a dip to $66,700, which aligns closely with my earlier prediction, attributed to low volume and short liquidation. There has been no significant long or short movement in the price action over this weekend.

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The cryptocurrency market appears to be gearing up for an upward trend in the coming week.

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Firstly, the $67,400 support level has proven to be strong once again. Secondly, as anticipated in my previous post, an upward trend is expected this week. Thirdly, the price is currently in the resistance zone of $70,100 to $71,500 and above. Will June be a great month for the Bitcoin and cryptocurrency market? Will Bitcoin surpass the $73,000 mark and reach between $80k to $85k?

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Bitcoin has established a new support trendline at $68,600, as depicted in my chart. It is currently approaching a resistance level of $70,100. Should it breakthrough, we can anticipate a rise to between $71,000 and $71,500.

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Bitcoin has just reached a price of $71,000. Although it did not close above $70,000 over the weekend, if it remains above this threshold by next weekend, it could signal a new upward momentum.
Currently, Bitcoin is exhibiting a double-top pattern on a weekly timeframe. If it breaks upwards, a bullish scenario may unfold; otherwise, there's a potential for a decline to the $43,000 level.

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A sudden drop in Volume
Bitcoin hit $72,000 and then went back to the support of $71,000 (as illustrated in the chart). currently, the BTC price is hanging around at a resistance level in a 4-hour time frame.

The weekend is approaching, and if Bitcoin fails to maintain its value between $72,000 and $71,000, a decline in its price may be anticipated.

I will keep updated

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Is this a perfect buying opportunity? Currently, at a support level of $69,400, if this support holds, my first target would be $70,100; otherwise, it could drop to $68,600 or even lower.

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Following my previous update, the Bitcoin price reached $70,100 from $69,400, then faced resistance and fell back to support, with the current price touching the previously visited support level of $67,400.

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Bitcoin rebounded to the $70,100 resistance level, likely influenced by a couple of factors:
- "Dormant Bitcoin Whale Moves $535 Million Worth of BTC to Binance After Registering 1,700% Gain" - Cryptoglobe
- "BTC price shoots up $1.5K in seconds as US CPI shows inflation slowing" - Cointelegraph

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Since my last update, Bitcoin has experienced a downtrend, falling from $70,100 to the current $62,500. The price may drop to $61,400 before potentially making a bullish reversal. My target is the $61,400 support level; falling below this could lead to a further decline to $56,400.

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Bitcoin has hit my target price of $61,300, dropping even further to $60,700. From this point, Bitcoin needs to rebound; otherwise, we may enter a bear market. On a weekly timeframe, the price could drop to between $58,000 to $47,500.

Z4F4R

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Z4F4R

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