{"id":540886,"date":"2023-07-03T14:18:04","date_gmt":"2023-07-03T14:18:04","guid":{"rendered":"https:\/\/ktsl888.com\/?p=540886"},"modified":"2024-06-11T08:05:55","modified_gmt":"2024-06-11T08:05:55","slug":"bitcoin-bulls-dominate-but-expert-warns-of-potential-20000-retest","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-bulls-dominate-but-expert-warns-of-potential-20000-retest\/","title":{"rendered":"Bitcoin Bulls Dominate, But Expert Warns Of Potential $20,000 Retest"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin has risen by almost 80% in the first six months of 2023. However, as has been the case in the past, the cryptocurrency has experienced periods of stagnation before making any significant moves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This has resulted in a consolidation phase that has left investors waiting in anticipation for the next direction. And i<\/span><span style=\"font-weight: 400\">f attempts to breach upper resistance lines fail, it could jeopardize most of the gains made in the last few months of 2023.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Will Bitcoin Plummet To The Depths?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst under the pseudonym \u201cCaptain Faibik\u201d on Twitter, has recently made some bold <\/span><a href=\"https:\/\/twitter.com\/CryptoFaibik\/status\/25558785?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">predictions <\/span><\/a><span style=\"font-weight: 400\">about Bitcoin\u2019s future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the current bullish sentiment in the market and the possibility of reaching a new yearly high for 2023, Captain Faibik warns that bulls are not \u201cout of the woods yet.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Faibik believes that Bitcoin may retest the $20,000 region in the upcoming months of August and September. However, Faibik also believes that the Bitcoin bull run will officially start in November 2023.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-lead-teases-shibarium-launch-shib-price\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Lead Dev Teases Shibarium Launch, How High Can SHIB Rise?<\/a><\/div>\n<p><span style=\"font-weight: 400\">On the other hand, the recent confirmation of a 2-week buy signal, a successful retest from the breakout, and the Moving Average Convergence\/Divergence (MACD) crossing above the &#8220;0&#8221; level for Bitcoin have caught the attention of traders and investors alike.\u00a0 <\/span><span style=\"font-weight: 400\">These indicators have only occurred in 2015, 2019, and 2020, leading many to believe that a significant price movement is imminent.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Trader &#8220;Moustache&#8221; <\/span><a href=\"https:\/\/twitter.com\/el_crypto_prof\/status\/17472512?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">highlights <\/span><\/a><span style=\"font-weight: 400\">that while history doesn&#8217;t repeat itself exactly, it often rhymes. This means that while past events can provide insights into potential market movements, there are no guarantees in the volatile cryptocurrency market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the fact that these same technical indicators have been observed in the past and have been followed by significant price movements is a cause for excitement among Bitcoin investors.<\/span><\/p>\n<figure id=\"attachment_540889\" aria-describedby=\"caption-attachment-540889\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-540889\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/F0GalQkWAAEwivC.jpg?resize=860%2C441\" alt=\"Bitcoin \" width=\"860\" height=\"441\"><figcaption id=\"caption-attachment-540889\" class=\"wp-caption-text\">BTC&#8217;s retests before significant price increases. Source: <a href=\"https:\/\/twitter.com\/el_crypto_prof\/status\/17472512?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Moustache on Twitter.\u00a0<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The 2-week buy signal is a particularly significant indicator, suggesting that Bitcoin is oversold and undervalued, making it an attractive investment opportunity. The successful retest from the breakout is also a positive sign as it indicates that the breakout was not a false signal, and the new price level has been validated.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The MACD crossing above the &#8220;0&#8221; level is another bullish indicator as it suggests that the momentum is shifting in favor of the bulls. This is important as it indicates that the buying pressure is increasing, which could lead to a significant price movement shortly.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">BTC Set To Soar?<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Economist and trader MikyBull has been closely analyzing the pre-halving price action of Bitcoin for 2024.\u00a0<\/span><a href=\"https:\/\/twitter.com\/MikybullCrypto\/status\/97792000?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">According <\/span><\/a><span style=\"font-weight: 400\">to MikyBull, the current accumulation phase is wider than previous halvings, indicating that the post-halving rally may take longer to materialize. However, the wider accumulation phase could also result in a more significant price increase.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/litecoin-shows-solid-bullish-trends\/\" target=\"_blank\" rel=\"noopener \">Litecoin $100 Milestone Indicates Promising Bullish Trends \u2013 Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">Furthermore, Bitcoin\u2019s price has already tapped into the bi-yearly resistance, which is a crucial price level that has historically led to breakouts. This indicates that a price breakout is imminent, and MikyBull anticipates a rally before the halving event with a price target between $35,000 and $40,000.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/dpuwfPF6\/\" alt=\"Bitcoin \" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">BTC&#8217;s sideways price action on the 1-day chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/wTcLONum\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is trading at $30,600, representing a modest gain of 0.4% over the past 24 hours. It is unclear whether the cryptocurrency will continue to hold this level or if a significant pullback will occur.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nonetheless, the current market sentiment favors bullish investors, and Bitcoin appears to be well-positioned for another attempt to break through the $31,000 line. <\/span><span style=\"font-weight: 400\">If successful, this could pave the way for the cryptocurrency to achieve further milestones throughout the remainder of 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Featured image from Unsplash, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has risen by almost 80% in the first six months of 2023. However, as has been the case in the past, the cryptocurrency has experienced periods of stagnation before making any significant moves.\u00a0 This has resulted in a consolidation phase that has left investors waiting in anticipation for the next direction. And if attempts to breach upper resistance lines fail, it could jeopardize most of the gains made in the last few months of 2023. Will Bitcoin Plummet To The Depths? Crypto analyst under the pseudonym \u201cCaptain Faibik\u201d on Twitter, has recently made some bold predictions about Bitcoin\u2019s future.\u00a0 Despite the current bullish sentiment in the market and the possibility of reaching a new yearly high for 2023, Captain Faibik warns that bulls are not \u201cout of the woods yet.\u201d\u00a0 Faibik believes that Bitcoin may retest the $20,000 region in the upcoming months of August and September. However, Faibik also believes that the Bitcoin bull run will officially start in November 2023. Related Reading: Shiba Inu Lead Dev Teases Shibarium Launch, How High Can SHIB Rise? On the other hand, the recent confirmation of a 2-week buy signal, a successful retest from the breakout, and the Moving Average Convergence\/Divergence (MACD) crossing above the &#8220;0&#8221; level for Bitcoin have caught the attention of traders and investors alike.\u00a0 These indicators have only occurred in 2015, 2019, and 2020, leading many to believe that a significant price movement is imminent. Trader &#8220;Moustache&#8221; highlights that while history doesn&#8217;t repeat itself exactly, it often rhymes. This means that while past events can provide insights into potential market movements, there are no guarantees in the volatile cryptocurrency market.\u00a0 However, the fact that these same technical indicators have been observed in the past and have been followed by significant price movements is a cause for excitement among Bitcoin investors. The 2-week buy signal is a particularly significant indicator, suggesting that Bitcoin is oversold and undervalued, making it an attractive investment opportunity. The successful retest from the breakout is also a positive sign as it indicates that the breakout was not a false signal, and the new price level has been validated. The MACD crossing above the &#8220;0&#8221; level is another bullish indicator as it suggests that the momentum is shifting in favor of the bulls. This is important as it indicates that the buying pressure is increasing, which could lead to a significant price movement shortly. BTC Set To Soar? Economist and trader MikyBull has been closely analyzing the pre-halving price action of Bitcoin for 2024.\u00a0According to MikyBull, the current accumulation phase is wider than previous halvings, indicating that the post-halving rally may take longer to materialize. However, the wider accumulation phase could also result in a more significant price increase. Related Reading: Litecoin $100 Milestone Indicates Promising Bullish Trends \u2013 Here\u2019s Why Furthermore, Bitcoin\u2019s price has already tapped into the bi-yearly resistance, which is a crucial price level that has historically led to breakouts. This indicates that a price breakout is imminent, and MikyBull anticipates a rally before the halving event with a price target between $35,000 and $40,000. At the time of writing, Bitcoin is trading at $30,600, representing a modest gain of 0.4% over the past 24 hours. It is unclear whether the cryptocurrency will continue to hold this level or if a significant pullback will occur.\u00a0 Nonetheless, the current market sentiment favors bullish investors, and Bitcoin appears to be well-positioned for another attempt to break through the $31,000 line. If successful, this could pave the way for the cryptocurrency to achieve further milestones throughout the remainder of 2023. Featured image from Unsplash, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":540888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,78790,6664],"class_list":["post-540886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Bulls Dominate, But Expert Warns Of Potential $20,000 Retest<\/title>\n<meta name=\"description\" content=\"Bitcoin has risen by almost 80%, however, if attempts to breach upper resistance lines fail, it could jeopardize the gains made in 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. 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