Bitcoin forecast, 10-06-2024

Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Bitcoin forecast, 10-06-2024

Bitcoin forecast

Bitcoin (BTC) fundamental analysis and news
Greetings. My name is Victor and today I will share with you an analysis of Bitcoin (BTC) based on current news and trends. Bitcoin remains the most popular and influential cryptocurrency in the world. Its price significantly affects the entire crypto market. The latest news includes the approval of spot bitcoin ETFs in the United States, which could have a significant impact on the rate. This decision will attract more institutional investors and add significant liquidity to the market.

The development of the Lightning Network continues, making transactions faster and cheaper. This is important for increasing the usability of bitcoin as a means of payment. Recent events, such as conferences and interviews with project leaders, also add to the positive momentum. Interest in bitcoin continues to grow, and this can be seen in the increasing number of followers and active users on social platforms.

Technical analysis of Bitcoin (BTC)

Monthly Timeframe
On the monthly chart, we can see that Bitcoin has gone through several phases of accumulation and growth. From the spring of 2023 to the spring of 2024, there was an accumulation phase, which is coming to an end, and now we are entering a new growth phase. The exchange rate is expected to exceed $100 thousand in the coming months. The summer and autumn will see a gradual rise to this level, with the main movement taking place towards the end of the year.

Weekly Timeframe
On the weekly chart, bitcoin shows a strong uptrend. After a phase of accumulation that lasted several months, the rate rose from $30,000 to $70,000, and now we are seeing another phase of accumulation. It is expected that the exit from this phase will lead to an increase to $85 thousand. This could happen in the coming weeks.

Daily timeframe
The daily chart shows that bitcoin has recently broken out of the accumulation pattern and is preparing for further growth. Indicators show that the rate could reach $85,000. The pattern we are observing indicates the possibility of an upward movement by the size of this figure, which is a positive signal for investors.

Hourly timeframe
The hourly chart shows that the latest news from the US led to a drop in the rate from $72 to $69 thousand. However, activity declined over the weekend, and the rate stabilised at $69,000. If trading volumes increase on Monday, this could lead to a breakout of the middle zone and further growth.

Bitcoin forecast, BTC (Bitcoin)

The outlook for bitcoin in the coming months remains positive. Taking into account the approval of spot ETFs, the development of the Lightning Network, and positive indicators of technical analysis, the rate is expected to rise to $85,000 in the short term. Going beyond this level could lead to further growth to $100,000 or more by the end of the year.

The main support levels remain at $67,000 and $69,000, while resistance levels are $73,000 and $75,000. A breakout of these levels will create conditions for significant growth. Technical indicators, such as RSI and MACD, point to a continuation of the bullish trend.

Bitcoin

Bitcoin continues to show a strong uptrend, supported by fundamental news and technical indicators. The approval of spot ETFs and the development of the Lightning Network create favourable conditions for the rate’s growth. It is expected to reach $85,000 in the short term, and then up to $100,000 or more.

Investors should pay attention to key support and resistance levels, use buy strategies on pullbacks, and make the most of profit opportunities. Thank you for your attention! If you liked this video, please like, share with your friends, and subscribe to my CryptoViktor channel for the latest cryptocurrency forecasts and analysis in Ukrainian. Write your thoughts in the comments section to help other viewers make informed investment decisions. See you soon!
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