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Renowned cryptocurrency analyst DonAlt, known for his accurate Bitcoin predictions, recently highlighted a bullish outlook for BTC. Posting on social media platform X, DonAlt claimed that Bitcoin’s bears have exhausted their defenses, clearing the way for a significant price increase.
Bitcoin fractal suggests a historic repeat! Analysts spot a pattern that could lead to a staggering $200,000 peak in this cycle, mirroring previous market trends.
— Ijaz Awan (@realijazawan) July 19, 2024
Will BTC reach new heights and shatter expectations? pic.twitter.com/FxyEgUawuU
He emphasized that Bitcoin is likely to remain strong as long as it stays above $63,000—a level he views as solid support given the current market conditions. DonAlt’s analysis suggests that without substantial resistance, Bitcoin is poised to escalate to higher levels. This optimistic perspective aligns with broader market sentiments, hinting at a potentially robust performance for Bitcoin shortly.
Key Bitcoin Levels To Watch – July 21
The direction of BTCUSD is bullish, as it aims to break the descending trendline to the upside. The price has bounced off the support level at $56500 and is currently testing the resistance at $68000. The Stochastic RSI is in the overbought zone at 97.29, indicating strong buying pressure but also suggesting a possible short-term pullback. If the price sustains above $68000, it could target the next resistance at $73840, with potential further upside towards $80000.
BTCUSD Key Levels
Resistance Levels: $73840, $80000, $84000
Support Levels: $63800, $56500, $50510
BTC/USD Metrics
Total Market Capitalization: $2.44T
BTC Market Capitalization: $1.32T
Bitcoin Volume: $18.05B
Market Rank: #1
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