Market Analysis by Investing.com (Damian Nowiszewski) covering: BTC/USD, Bitcoin, ETH/USD. Read Investing.com (Damian Nowiszewski)'s Market Analysis on Investing.com
For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttonhas been consolidating lately, even as stocks make a strong comeback and erase their previous losses. Although the cryptocurrency has lagged behind the broader market, several factors now seem to be aligning, signaling that Bitcoin might be ready to catch up.
However, analyst Rekt Capital highlights a pattern from previous cycles: significant price increases typically gain momentum around 160 days after halving. If this pattern holds, we might see a stronger upward movement in September or October. This suggests that miners likely won’t need to sell their Bitcoin holdings to sustain mining operations and maintain computing power.Bitcoin’s current consolidation has formed a triangle pattern, which typically suggests a bullish outlook. A breakout above the upper boundary of this triangle could signal an upward move, aligning with the long-term upward trend.
If Ethereum gains momentum, the next significant resistance level to watch is $3,500. This level could be the last hurdle before a potential push towards new all-time highs. Meanwhile, the primary support remains at the recently defended $2,200.This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest.
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