The Bitcoin (BTC) has once again become a focus among analysts after defending the US$ 61 thousand, a level considered decisive for the continuation of the upward movement. While part of the market believes the largest cryptocurrency could reach US$ 80 thousand by August, many traders remain positioned for a possible correction below US$ 60 thousand, highlighting the split in expectations.
In analyst Michaël van de Poppe's assessment, BTC's recent behavior shows that buyers continue to control an important region of the chart. Remaining above this support also coincides with the recovery of relevant moving averages, normally used to identify the prevailing price direction.
“It is holding at the crucial level of US$ 61.000 and turning important moving averages into support, indicating that there is more momentum on the horizon,” he wrote.
According to the analyst, this technical behavior increases the chances of appreciation in the coming weeks. The expectation is that Bitcoin will first test the range of US$ 68 thousand, before seeking even higher levels during the month of August.
"I predict a rise to US$ 68.000 in the next 1 to 2 weeks, followed by a continuation of the appreciation to US$ 75.000-80.000 in August."
The projection also coincides with an area of strong liquidity observed in the order book of the main exchanges. If Bitcoin manages to break out of its current trading range, the concentration of orders could accelerate the move to the region indicated by the analyst.
Despite this positive scenario, the derivatives market shows that many participants continue to bet on an opposite move. Several traders still see the possibility of BTC losing the US$ 61 thousand support and returning to levels below US$ 60 thousand, especially in light of expectations for new economic data from the United States and the typical volatility of these events.
This division between buyers and sellers keeps Bitcoin at a निर्णisive point. While the chart structure continues to favor a recovery above US$ 68 thousand, the loss of current supports could increase selling pressure in the short term.
Trader warns of possible Bitcoin correction after testing US$ 67,4 mil
Another technical reading draws attention to a possible correction move in the short term. Trader Merlijn The Trader stated that Bitcoin entered the supply zone between US$ 64,4 thousand and US$ 65,4 thousand, a region where selling pressure usually increases.
"BITCOIN JUST ENTERED THE SUPPLY ZONE BETWEEN US$ 64,4 MIL E US$ 65,4 MIL. THE NEXT DESTINATION IS THE TRAP."
According to the analyst, the liquidity accumulated at US$ 67,4 thousand, which has remained intact since June 16, may attract the price before a rejection.
"Above is the external liquidity at US$ 67,4 mil, untouched since June 16."
In the trader's assessment, a quick move through this level could open room for a stronger correction.
"This is the point where late buyers enter and smart money takes profits. Sweep that liquidity, reject the move, and then the drop to US$ 57 mil begins."
Analysis: Trader sees decisive region before possible drop to US$ 50 mil
Trader symbiote stated that Bitcoin needs to confirm a breakout of the current technical structure to maintain the bullish outlook. According to him, a close above the level known as Break of Structure (BOS) would be a positive signal for the market.
"If Bitcoin manages to close above the Break of Structure (BOS), I will start looking for bullish signs. Otherwise, I will be 100% certain that we are going to fall below US$ 60 mil to finally form a bottom between US$ 50 mil and US$ 55 mil. It is the most important region to watch right now."
In the trader's assessment, BTC's behavior at this point will be decisive in determining whether the cryptocurrency will resume its uptrend or continue toward a deeper correction.
Analysis: Kaleo projects a rise to US$ 70 mil before a drop to US$ 40 mil
The trader K A L E O (@CryptoKaleo) presented a medium-term projection that foresees one last upward move before a significant correction. In his chart, Bitcoin advances to near US$ 70 thousand, goes through a consolidation period and, later, posts a sharp drop.
"As I said yesterday, and it is worth repeating after Warsh's speech: a rise to the low US$ 70 mil region next month, followed by a period of consolidation. Then, a drop to the high US$ 30 mil or low US$ 40 mil range between September and October. That move would mark the bottom of the bear market before the start of the climb to new all-time highs."
According to the chart shared by the analyst, BTC may pull back to near US$ 40 thousand before starting a new appreciation cycle toward record prices.
