BTC, which regained 70 thousand dollars, lost this level after the US market opening. The White House Press Secretary announced that he would make statements at 21:00. Although today is a quiet day in terms of data flow, US CPI figures will be released tomorrow, so activity is expected to increase significantly. Moreover, the Iran issue is also very hot. So, what are the current expectations for Bitcoin?
Bitcoin Descending Channel
Statements of different tones continue to come from Iran and the USA. trump While they were saying that they might have come to an end, today the US Secretary of War was saying things like “we will cause even more pain”. Constructive statements must improve and negotiations must return as soon as possible. As a matter of fact, if negotiation was on the agenda even the day after Khamenei’s death, the possibility of compromise increases as events cool down with each passing day. We saw a similar story last year, although not as severe.
Returning to the chart, the analyst nicknamed Columbus draws attention to Bitcoin, which wants to break the descending channel. According to him, maintaining the trend line will carry the momentum to $74,000 and beyond, but the macro front is mixed. Oil, inflation, delayed interest rate cuts, delayed QE, tariffs and dozens of other things.
“So what matters now is not whether there will be a clear break, but whether the macroeconomic situation remains mixed.” of BTC whether it can accept the above structure or not.
If he accepts it, this will start to look like a real recovery. If he doesn’t accept it, it will just be another channel extension.”
Bitcoin Target $43,000
Turkish on-chain analyst @anlcnc1 at $78k of Bitcoin It draws attention to the real market average. Historically, below this level is weakness and this is where a pullback must be made for the trend to reverse. As a matter of fact, in technical analysis, the region required for the change of trend matches the on-chain reading.
If the price regains this level, a bottom reversal begins and the trend changes. However, according to Anıl, closings below this open the door to the lower band of 60 thousand dollars or even to 43 thousand dollars, which will be the real surrender point.
“If the price rises above the True Market Mean again and maintains its permanence there, it will be an important signal that the market structure is gaining strength again. For now, the main key zone in this metric is $78K and the level continues to be updated downwards every day.” – @anlcnc1
