Short-Term Gains
Cryptocurrency analyst Crypto Jelle believes Bitcoin is poised for short-term gains. Despite a recent dip, Jelle expects the coin to revisit $69,000. He advises investors to hold around $66,500 and wait for the upcoming Bitcoin halving.
Bullish Pennant Formation
Jelle points to a bullish pennant formation, indicating a potential breakout in the coming weeks. He believes this is supported by a strong bounce from the 4-hour Exponential Moving Average (EMA) 200.
Bitcoin Halving
The Bitcoin halving event, scheduled for the next 15 days, is expected to boost BTC’s price. Crypto Jelle believes this could accelerate the breakout and lead to the $69,000 target.
Other Bullish Factors
Crypto expert Lark Davis highlights two other events that could impact Bitcoin’s price:
- US Elections: The stock market tends to perform well during elections, and Bitcoin is expected to follow suit.
- Federal Reserve Interest Rate Cuts: Goldman Sachs predicts three rate decreases starting in June, which could increase market liquidity and encourage investment in crypto assets.
