Five popular analysts shared their opinions on the future prospects of Bitcoin (BTC). Popular crypto experts have analyzed key price levels on which the future of Bitcoin (BTC) may depend on the current conditions of market volatility.
Bitcoin between key support and resistance levels
CryptoTony highlights a critical point at $64,300. A recovery above this level (former support turned resistance) could pave the way for traders to enter the market more safely.
Meanwhile, Crypto_Chase emphasizes the need to maintain support in the $60,000 to $61,000 range to keep upside hopes alive and avoid a bearish reversal. Meanwhile, ColdBloodShill takes a more multi-factorial view. It notes price optimism on short time frames (LTF), but warns of potential problems and uncertainty on longer time frames (HTF). He spoke about this in a video describing the current market structure on the daily chart: “We have a terrible mixture of hopes on short time frames and fears on long time frames.”
In turn, CarpeNoctom considers daily charts. He writes that Bitcoin has returned to within the daily Ichimoku cloud, indicating a neutral trend. The analyst believes that the market may remain in this state for at least another ten days. He advises traders to watch for an inverted head and shoulders pattern forming, which could signal an upcoming price move. “The trend remains NEUTRAL as long as price stays in the cloud and becomes BEARISH once we get a daily close outside the cloud.”
Crypto_birb forecasts a potential May price target of around $70,000, supported by support from the Bitcoin ETF market and strong correlation with the S&P 500 Index. The analysis highlights technical support at $61,000 and resistance around $64,000.
BTC Forecast: Consolidation remains a central theme
Currently, the price remains in the consolidation phase. The $60,000 level is the most important psychological support level for BTC. The implementation of a bearish scenario could still trigger a sell-off to the $55,000 area.
The $64,000 mark is an important resistance zone for BTC. However, If the price recovers and consolidates above this level, it could resume growth towards $70,000. Meanwhile, the relative strength index (RSI) remains just below the neutral level of 50, indicating that the asset is neither oversold nor overbought. This adds confidence that the price is consolidating before the next significant move.
