Bitcoin bulls eye an imminent surge, analysts say. In a recent development, BitQuant has suggested that significant increases in Bitcoin’s value are on the horizon, although the exact timing remains elusive. BitQuant’s remarks come in response to analysis by fellow commentator Mikybull Crypto, who has been closely monitoring the cup and handle pattern on weekly charts.
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This formation typically involves a substantial rise, a subsequent pullback, and a consolidation phase, culminating in a breakout to higher levels. Mikybull Crypto has emphasized that this pattern often leads to a reevaluation of Bitcoin’s price potential, hinting at the possibility of further exploration into uncharted territory.
Key Bitcoin Levels To Watch – May 15
The market experienced a BOS (Break Of Structure) at $49102.00 in February 2024. The uptrend continued with minor retracements until the price hit $73835.00 resistance.
A major retracement eventually began immediately after the $73835.00 resistance was hit. However, according to the Moving Average, the bullish trend has resumed.
BTCUSD Key Levels
Resistance Levels: $67273.00, $73836.00, $80000.00
Support Levels: $50577.00, $43873.00, $38500.00
Bitcoin Metrics
Total Market Capitalization: $2.35T
Bitcoin Market Capitalization: $1.29T
Bitcoin Volume: $33.62B
Market Rank: #1
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