Crypto Analyst Predicts Potential Bitcoin Crash or Surge in July

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In the midst of intensifying anticipation towards July’s Bitcoin price, renowned crypto analyst Zen has unveiled a sharply incisive review of possible future scenarios for the digital cryptocurrency. The less-than-stellar performance of Bitcoin’s price in the June heat has undoubtedly left a significant number of investors with a sour aftertaste. This stems from the largely diminishing trajectory the cryptocurrency took throughout the month, which at one point, shockingly dipped below the $60,000 benchmark.

As this unfavorable price trend refuses to relent, Zen has illuminated our understanding of several pivotal liquidity pools that can arguably be decisive in forging Bitcoin’s trajectory in July and subsequent autumn months.

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The recent price drop witnessed Bitcoin’s price gasping for air below $60,000 earlier in the week. Zen was swift to note that this sudden breakdown signified a wiped-out liquidity beneath $60,630 – a finding that aligns perfectly with a prior price analysis. Regardless of Bitcoin’s recovery and re-establishment above the $60,600 mark, Zen warned that the cleared liquidity foretells a further risk of Bitcoin tripping over and reverting to $60,150 in the near term.

Moreover, Zen directed attention towards a variety of other liquidity price points that could serve as vital indicators of momentum in the sultry month of July. Intriguingly, these liquidity points brace Bitcoin’s falls and triumphs, acting as both support and resistance areas. If we were to witness the price displaying a continued downward incline, Zen’s detailed analysis suggests potential liquidity reservoirs at $60,260, $59,440, $58,990 and $56,850. Large-scale transactions by Bitcoin’s major custodians at these junctures could instigate eye-catching price shifts. Clearing such pools, however, could pose a serious threat to investor morale, and possibly, catalyze a Bitcoin crash to a new low of $53,000.

Shining a light on the possible ascension, Zen drew our eyes toward liquidity pools at $61,540, $62,540, $63,260, and $64,920. Moreover, Zen highlighted the contrasting scenarios Bitcoin currently paints across disparate timeframes. The daily charts show Bitcoin tail-spinning into a downturn, with each recoil acting as a stepping stone towards further downfall, cuing us in on the bear market’s dominance of the near-term momentum.

In contrast, Bitcoin’s weekly candle timeframe unveils Bitcoin in a tug-of-war, caught fluctuating within volatile sideways boundaries. Each rally is dogged with defeat, but with each fall, Bitcoin garners greater buying interest, that leads to fierce accumulation.

As Bitcoin trades at $60,765 presently, Zen contends that a weekly close above $60,622 will be the necessary life jacket Bitcoin needs to stay afloat in July. Any closure below $59,600 will further stoke the flames of the bearish tendency.

Despite the notorious unpredictability of Bitcoin, historical patterns have shown a recurrent green light in July. This periodic tendency could harbor the potential for Bitcoin to scale new heights, particularly if it successfully hurdles past the liquidity figures on the ascent. Thus, all eyes rest on Bitcoin’s journey ahead, as investors and analysts alike brace for the ebbs and flows of the digital currency market.