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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Bitcoin Price Hits Local High? Top Analyst Shares Key Levels

James Halver
James Halver
1 month ago
3 mins read
bitcoin price bitcoin btc btcusdt

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The Bitcoin price is slipping into a critical area following a decline in the previous buying pressure. Many traders and investors in the crypto market wonder if the top crypto will recover as confidence in a new Bull Market barely show signs of a recovery.

Related Reading

Bitcoin Risks Pullback To $105,000 After Facing Rejection Above $110,000

1 month ago

bitcoin price btc btcusdt

Bitcoin price trends to the downside on the daily chart. Source: BTCUSDT on Tradingview

Top Bitcoin Pundit: Watch Out For This Level

According to Daan Crypto, a senior crypto analyst, the Bitcoin price has weakened due to changes in the macroeconomic arena. In that sense, the analyst believes bull must hold the levels above $99,000 or they risk a bigger decline into the monthly lows sitting at around $90,000, as seen in the chart below.

bitcoin price btc btcusdt chart 2
Key Levels to watch as the Bitcoin price shows weakness on low timeframes. Source: Daan Crypto via X

Some of the elements affecting the Bitcoin price on the macro side include a good Consumer Price Index (CPI) print from the US, and a ‘good deal’ between this country and Chinese representatives. These news indicate decline in inflation and potentially an end to trade war between the two giants, respectively. However, the analysis noted:

At this point I’m fairly certain that if price breaks either the current monthly high or low, that it will keep trending that direction for the rest of June (and possible beyond). Eyes on those levels.

Still quite a volatile and headline driven market currently(…). So markets down on good news is always something to note. Just one day for now but good to be aware of.

James Wynn Makes Key Warning – Manipulation in the Bitcoin Price?

On similar news, James Wynn, a crypto trader that recently gained notoriety by leveraging millions of dollars to bet on the Bitcoin price, believes the selling pressure will rise on the short timeframe.

Wynn has been alerting its X followers on the alleged manipulation of the crypto market by big players. These massive investors, according to the crypto trader, target key levels and push Bitcoin towards them to hunt for liquidity in detriment of retail users.

Related Reading

XRP price news

XRP Could Crash To $1.55 Before Explosive Surge, Analyst Warns

1 month ago

This time Wynn claims ‘Market Makers’ might push the Bitcoin price down to the $106,000 area. However, the trader believes the downtrend will be short advising his followers of an imminent rebound. Wynn stated via X:

Hold onto your seats fellas. The MM’s are gonna try and push $BTC to around $106.8k to take out some over leveraged longs (not me). I learned the hard way.

Buy the dip or sit on your hands. It’ll be over quick. Time is ticking. New ATHs around the corner. Don’t be shaken.

Whether the downtrend will persist or if prices recover in the short term remains to be seen, but current price action suggests an imminent spike in volatility.

Cover image by ChatGPT, BTC/USDT chart from Tradingview

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James Halver
James Halver

James Halver

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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