Good evening to all my friends. I hope you all are doing well. Just one day to go for another fantastic weekend. Let's talk about crypto market. While i am writing this post, bitcoin is flirting with 68k level. The crypto market is currently mixed, with some investors hopeful for a recovery while others see downward trends. Many believe Bitcoin hit its cycle top in March 2024. Short-term price movements can significantly influence investor sentiment. So let's analysis the bitcoin monthly chart. After Analyzing Bitcoin’s monthly chart it shows that past cycle tops followed halving events and were marked by RSI resistance rejections. Currently, Bitcoin trades around $67,000, facing resistance near $70000.
Historical data indicates that U.S. money printing often boosts market prices. Although the U.S. hasn’t started new money printing yet, it could impact Bitcoin positively when it does. Recent bullish trends in the U.S. stock market may also affect Bitcoin in the coming months. So don't worry about market. Good days are ahead and i am hopeful that this month bitcoin candle closing will be above 68.5k which will be bullish sign for entire crypto market. Keep an eye on these patterns for potential shifts ahead. That's it for today. Here's the latest update video of crypto market. Thanks & have a good day!!
@abfarhan