Following positive Ethereum ETF news, the Bitcoin price surged from around $66k to over $71k before consolidating around $70k. As we analyze BTC price predictions, let’s explore the potentially explosive next cryptocurrency in the coming weeks.
Bitcoin Price Analysis – BTC Price Forecast
Popular crypto analyst Ali tweeted about the TD Sequential indicator, which has accurately predicted Bitcoin’s price action on the one-hour chart. According to Ali, the TD Sequential is now presenting a buy signal, anticipating that Bitcoin will rebound. This is a momentum oscillator that helps identify potential market reversals by tracking consecutive candlesticks and their closing prices.
Ali further tweeted that Bitcoin encounters minimal resistance, highlighting a key supply zone between $70,180 and $70,600, where over 450,000 addresses acquired 273,000 BTC. With strong support levels, he believes the odds favor the bulls.
#Bitcoin encounters minimal resistance! The key supply zone to watch is between $70,180 and $70,600, where over 450,000 addresses acquired 273,000 $BTC. With strong support levels, the odds are in favor of the bulls! pic.twitter.com/ecdqbb414l
— Ali (@ali_charts) May 22, 2024
Renowned analyst Rekt Capital also weighed in, suggesting that a weekly candle close above approximately $71,500 would likely kickstart the breakout from the re-accumulation range. However, he noted that history suggests Bitcoin chart should consolidate inside this re-accumulation range for several more weeks. Extended consolidation would help Bitcoin resynchronize with historical halving cycles, potentially resulting in a longer bull run.
Rekt Capital acknowledged that while investors understandably want a breakout, an accelerated cycle could mean the Bitcoin price peaks in its bull market sooner. Ultimately, he believes both cases are bullish, but history suggests a typically long bull run.
A Weekly Candle Close above ~$71500 would probably kickstart the breakout from the Re-Accumulation Range
However, history suggests Bitcoin should consolidate inside this Re-Accumulation Range for several weeks more
Extended consolidation here would get Bitcoin closer to… pic.twitter.com/Af0W4MMBTN
— Rekt Capital (@rektcapital) May 21, 2024
Based on the analysis from these prominent analysts, the Bitcoin price forecast remains optimistic, with the potential for further consolidation or a breakout above the $71,500 range, signaling the start of a new bullish trend.
Popular platform 99Bitcoins, with over 705k YouTube subscribers, shared insights on the BTC price too. The Fear and Greed Index at 70 indicates greed and increasing market confidence. Moving averages signal a strong buy, reflecting heightened Bitcoin interest. The market appears poised for continued bullishness, with Bitcoin potentially reaching $88,000 soon, according to 99Bitcoins’ analyst.
Next Crypto to Explode?
Shifting our focus to the next cryptocurrency to potentially explode in 2024, we turn to 99Bitcoins again as they recently launched $99BTC, a new token with a “Learn-to-Earn” model. Users earn $99BTC for learning about crypto via interactive modules and quizzes.
The $99BTC presale began on April 10, 2024, initially priced at $0.001. Prices increase in subsequent stages. To buy, users need a wallet like MetaMask and can pay with ETH, USDT, BNB, or fiat.
Post-presale, 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 potential for a rebound or bullish breakout, making BTC a potentially compelling opportunity.
Additionally, the upcoming $99BTC token from 99Bitcoins might potentially present an intriguing opportunity as the next cryptocurrency to explode, offering a learn-to-earn model and benefits for early investors.
