Bitcoin Price To Return Above $63,000? Here’s What Needs To Happen

Quick Summary:

According to data from Santiment, the weighted sentiment fell to -2 on July 5, its lowest level since the COVID-19 crash in March 2020.  A negative sentiment is not exactly a good sign for the Bitcoin price, as it could be a signal of further downside for the coin.

However, this is not always the case with the chart pattern.  Martinez highlighted that if the Bitcoin price successfully breaks above the triangle’s horizontal line, which is set around the $59,200 resistance level, it could continue its recovery journey.

The rationale behind Martinez’s projection is the formation of an ascending triangle pattern on the Bitcoin four-hour price chart.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOmanUnited States

Topics: Cryptoquant BTCUSDT Bitcoin price Bitcoin Btc price Bitcoin Ali Martinez

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-14 @ 07:00:23 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 438 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21604688

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Main Topics: Crypto

Official Website: newsbtc.com

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