Bitcoin has been struggling lately, but one analyst believes it’s on the verge of a major rebound.
$65,000: The Key Level
A popular crypto analyst, known as The Crypto Dog, has identified $65,000 as a crucial level for Bitcoin. He believes that if Bitcoin breaks above this mark, it could trigger a wave of FOMO (Fear Of Missing Out) among traders. This could lead to a surge in buying pressure, pushing Bitcoin past $70,000.
Bitcoin has been consolidating between $60,000 and $70,000 recently, suggesting that traders are closely watching this price range. The analyst believes that a break above $65,000 would signal a shift in sentiment and could lead to a significant rally.
Bitcoin’s Recent Performance
Bitcoin started the week on a negative note, dipping below $50,000 for the first time since early February. This drop has put $50,000 in the spotlight as a major support level. A rebound above $49,500 could spark some FOMO, but $65,000 remains a critical hurdle.
While Bitcoin’s recent performance has been disappointing, this analyst’s prediction suggests that a bullish turn could be on the horizon. If Bitcoin can break above $65,000, it could signal a major shift in the market and lead to a significant price increase.
