Bitcoin Bulls Eye Imminent Surge, Analysts Say

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.
 

“$95,000 Bitcoin Will Be Achieved In Just One Move” https://t.co/6nJTrB7goU

— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) May 15, 2024

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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