Following the positive Ethereum ETF news, Bitcoin price rose from around $66k to over $71k before consolidating around $70k. Let’s explore the next cryptocurrency to potentially explode in the coming weeks as we analyze BTC price predictions.
Bitcoin Price Analysis – BTC Price Forecast
Popular crypto analyst Ali Tweeted About the TD Sequential indicator, which has accurately predicted Bitcoin price action on the one-hour chart. According to Ali, the TD sequence is now presenting a buy signal, speculating that Bitcoin will rally. It is a momentum oscillator that helps identify potential market reversals by continuously tracking candlesticks and their closing prices.
Ali further tweeted that Bitcoin faces minimal resistance, highlighting a key supply zone between $70,180 and $70,600, where over 450,000 addresses have received 273,000 BTC. With strong support levels, he believes the odds are in favor of the bulls.
#Bitcoin Minimal resistance is encountered! The key supply zone to watch is between $70,180 and $70,600, where over 450,000 addresses received 273,000 $btc, With strong support levels, the odds are in favor of the bulls! pic.twitter.com/ecdqbb414l
– Ali (@ali_charts) 22 May 2024
Renowned analyst Rect Capital also highlighted that a weekly candle close above around $71,500 is likely to trigger a breakout from the re-accumulation range. However, he added that history suggests that the Bitcoin chart should consolidate inside this re-accumulation range for several more weeks. The extended consolidation will help Bitcoin re-synchronize with historical halving cycles, potentially resulting in a prolonged bullish run.
Rect Capital acknowledged that although investors want a breakout, the accelerated cycle could mean bitcoin price Peaks are reached early in bull markets. Ultimately, he believes both cases are bullish, but history shows that bull runs are usually longer.
#B T c
A weekly candle close above ~$71500 would likely trigger a breakout from the re-accumulation range.
However, history suggests that Bitcoin should consolidate inside this regrouping range for several weeks.
Extended consolidation here will bring Bitcoin closer to… pic.twitter.com/Af0W4MMBTN
– Rekt Capital (@rektcapital) 21 May 2024
Based on analysis from these leading analysts, the Bitcoin price forecast remains bullish, with the possibility of further consolidation or a breakout above the $71,500 range, signaling the beginning of a new bullish trend.
Popular Platforms 99bitcoinsWith over 705k YouTube subscribers, also shared information on BTC price. The Fear and Greed Index at 70 indicates greed and rising market confidence. The moving averages indicate a strong buying signal, indicating increased interest in Bitcoin. According to analysts at 99Bitcoins, the market looks set for continued bullishness, with Bitcoin likely to reach $88,000 soon.
The next crypto explosion?
Turning our attention to the next cryptocurrency to potentially explode in 2024, we turn again to 99Bitcoins as they recently launched. $99btc, a new token with a “learn-to-earn” model. Users earn $99BTC for learning about crypto through interactive modules and quizzes.
The $99BTC presale began on April 10, 2024, with an initial price of $0.001. Prices increase in the later stages. To buyUsers need a wallet like MetaMask and can pay with ETH, USDT, BNB or fiat.
After the sale, investors can claim $99BTC tokens or stake them for rewards like premium content, trading signals, and discounts.
The total $99BTC supply is 99 billion, with 10.39 billion allocated for the presale. Initially an ERC-20 token, this presale raised over $1.5 million in about a month.
conclusion
While Bitcoin price momentum consolidates, indicators suggest the possibility of a rally or bullish breakout, making BTC a potentially compelling opportunity.
Additionally, the upcoming $99BTC token from 99Bitcoins could potentially present an interesting opportunity as the next cryptocurrency to explode, providing a hands-on learning model and benefits for beginning investors.
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