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Bitcoin has been under global attention since its inception. There are many reasons for this. Over the years, BTC’s development reached its peak—though still considered in its infancy—and was adopted as an investment vehicle in the USA. After the ETF approved in January, BTC saw an ATH in March, followed by a volatile market. Currently, there is speculation that BTC might experience another upward movement.
What Will Bitcoin’s Price Be?
Due to the uncertain price outlook seen in early June 2024, potential BTC movements remain a topic of interest. It is also believed that BTC might break out of its stagnation and sideways trading to move upward. Following the rise seen in early 2024, Bitcoin seems to have entered another pause period, with prices fluctuating between $59,000 and $71,000.
Throughout this period, from the beginning of 2024, the BTC price increased by 60.51%, with a 9.41% rise in the last 30 days and 0.41% in the last 7 days. Currently, Bitcoin’s price remains at $69,000. Despite this, the daily fluctuations continue to raise questions.
Analyst’s BTC Commentary
However, on June 3rd, leading analyst Ali Martinez suggested that BTC might break its symmetrical triangle chart pattern. According to Martinez, if Bitcoin maintains above $69,330, its price could quickly rise to $74,400.
Additionally, Ali Martinez examined the TD Sequential technical indicator to provide further insights on BTC. According to Martinez, the data aligns with a strong signal. Based on past price movements, this indicator, used to predict whether the current trend will be confirmed or reversed, suggests that Bitcoin might be preparing for a correction to $68,700 or $68,050.
