Bitcoin (BTC), which entered a turbulent period after the halving, caused concern among crypto investors. The admiral of cryptocurrencies, which has already created great curiosity for the next price move, continues to keep altcoins on their toes. So when will Bitcoin’s bull run, which everyone is eagerly waiting for, begin?
WHAT IS THE LATEST SITUATION IN BITCOIN?
Bitcoin, which has not yet decided on its rotation after completing its fourth halving, oscillates in a short price range. The leader of cryptocurrencies, which generally moves with the price flow, also attracted attention with the decrease in its volume.
BTC, which loosened to the $ 64,480 band with various fud news and large outflows in spot ETFs, may decline to $ 63,040 – 61,989 – 60,810 – 59,009 – 56,622 and $ 54,966, respectively, if the negative outlook continues. In particular, the loss of the $63,040 – $61,989 range may take over the dominance of the sellers.
Factors such as the data flow on spot ETFs turning positive, the fud news stopping, the halving effect occurring or the FED decreasing interest rates will strengthen Bitcoin. In such a scenario, 67,091 – 69,017 – 71,289 and 73,684 dollars can be targeted, respectively. If ATH breaks, a completely different bull run will be on the table for BTC.
WILL ETHEREUM MAKE A SURPRISE?
It seems that Ethereum has lost value recently and is testing the $ 3,072 support zone. However, in this search for balance, there seems to be a glimmer of hope in the near term. There are signs that Ethereum is experiencing a wave of recovery above the $3,125 support. However, it looks like ETH will need to surpass the critical resistance of $3,200 for a real recovery.
In technical analysis, a distinct ascending channel is observed on the hourly chart of Ethereum. However, it should not be forgotten that the $3,140 support is important to stay within the boundaries of this channel. If ETH/USD breaks below the $3,125 support, it could trigger a downside move.
Resistance points are also evident against Ethereum in the coming days. In particular, the $3,200 resistance zone stands out as a critical point. However, if Ethereum breaks this resistance, the $3,240 level could be the next important target. At this point, there could be a rise towards the $3,280 level. However, this level must be crossed for a real uptrend.
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