Analyst Predicts Bitcoins Return to 67000 Find Out When
Bitcoin (BTC) has plummeted to its lowest point in four months, hitting $60,000 before rebounding slightly to $61,500. However, cryptocurrency analyst CrypNuevo predicts that BTC will return to the $67,000 range by the end of July.
CrypNuevo shared his analysis in a “Sunday Update” thread on X on June 30. He anticipates a volatile week ahead due to macroeconomic news, such as the MiCa regulation in Europe and economic data from the United States.
The professional trader highlights three key Bitcoin levels to watch in the next two to three weeks. He believes that BTC will test resistance at $64,000, retrace to $59,000, and then surge to $67,000.
CrypNuevo identifies two liquidity areas to keep an eye on: $62,500 to $63,500 in the short term and $67,100 in the mid-term. These are levels that crypto whales often target for liquidation squeezes.
However, CrypNuevo also notes a long wick on the chart that needs to be filled to balance open interest gaps. He believes this wick-filling process is likely to happen soon.
Based on his analysis, CrypNuevo projects a three-phase movement for Bitcoin in the next two to three weeks. BTC will initially make an impulsive move up to $64,000, then retrace to around $59,285 to fill 50% of the wick, and finally surge to $67,000 after forming a potential accumulation range.
Traders should closely monitor these key levels and be prepared for potential price swings. Despite short-term volatility, the overall trend suggests a bullish outlook for Bitcoin in the coming weeks. In fact, three out of every four BTC traders on Binance have recently opened long positions.
Disclaimer: The content provided on this site should not be considered investment advice. Investing in cryptocurrency carries risks, and it’s important to be aware that your capital is at risk.
