{"id":608132,"date":"2024-05-15T13:30:20","date_gmt":"2024-05-15T13:30:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=608132"},"modified":"2024-06-11T07:01:21","modified_gmt":"2024-06-11T07:01:21","slug":"bitcoin-57938-level-to-watch","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-57938-level-to-watch\/","title":{"rendered":"Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week"},"content":{"rendered":"

Crypto analyst CryptoCon<\/span><\/a> has revealed a key level to watch out for as Bitcoin attempts to break critical resistance levels. The analyst suggested that a drop to this <\/span>price level<\/span><\/a> may not be bad for Bitcoin and could instead be necessary for it to finally make that price rally.\u00a0<\/span><\/p>\n

$57,938 Is The Price Level To Keep An Eye On<\/h2>\n

CryptoCon mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that $57,938 is the \u201cnew price to watch for the 20-week EMA (Exponential Moving Average).\u201d He noted that such a price drop might be necessary, stating that \u201cboredom and sideways price action allow room for growth.\u201d Based on his analysis, any potential price decline that <\/span>Bitcoin experiences<\/span><\/a> is a healthy correction and shouldn\u2019t be considered a bearish reversal.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price?<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Meanwhile, Bitcoin is showing impressive strength on the charts, with CryptoCon stating that the flagship crypto \u201ccontinues to hold the <\/span>20-week EMA<\/span><\/a> as support while visiting the almost absolute bottom of the cycle 4 DMI support zone.\u201d CryptoCon\u2019s positive outlook for Bitcoin provides assurance that a parabolic move is still on the horizon.\u00a0<\/span><\/p>\n

Crypto analyst Rekt Capital<\/span><\/a> also recently shared a positive outlook for Bitcoin. He <\/span>revealed<\/span><\/a> that Bitcoin was out of the \u201cDanger Zone,\u201d suggesting that the flagship crypto was primed for a move to the upside. The analyst also remarked that Bitcoin was running out of unremarkable months before it began its parabolic phase.\u00a0<\/span><\/p>\n

Crypto analyst Mikybull Crypto<\/span><\/a> hinted that Bitcoin was already showing signs of this imminent parabolic phase. In an <\/span>X post<\/span><\/a>, he mentioned that Bitcoin was displaying a cup and handle reversal pattern on the weekly chart and that the \u201cbreakout will be explosive and will send it to a cycle top.\u201d<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

While agreeing with Mikybull Crypto\u2019s analysis, Crypto analyst BitQuant <\/span>mentioned<\/span><\/a> that $95,000 will be \u201cachieved in one move, and that is quite obvious.\u201d He, however, noted that it remains uncertain when this move will happen and called for patience as everyone waits for Bitcoin \u201cto perform as expected.\u201d<\/span><\/p>\n

BitQuant further advised that it might be better to leave the market for those who can\u2019t \u201cavoid the torture,\u201d claiming that there \u201cwill be a lot of pain for those with weak nerves\u201d in the coming months. Based on <\/span>Arthur Hayes\u2019s prediction<\/span><\/a>, investors might have to wait until August for that big move from the flagship crypto.\u00a0<\/span><\/p>\n

Bitcoin Is Still Far From Its Market Top<\/h2>\n

In a recent <\/span>X post<\/span><\/a>, Rekt Capital suggested that Bitcoin was still far from its <\/span>market top<\/span><\/a>. He highlighted past cycles, which show that the bull market peak usually occurs between 518 and 546 days after the <\/span>halving<\/span><\/a>. Based on this, the analyst predicts that the flagship crypto will likely peak in September or October 2025.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True?<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The crypto analyst also acknowledged that Bitcoin has been <\/span>accelerating in this cycle<\/span><\/a> by over 200 days. However, he remarked that Bitcoin could resynchronize with <\/span>past halving cycles<\/span><\/a> if it continues to consolidate for longer.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC regains strength following dip | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from CoinDesk, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst CryptoCon has revealed a key level to watch out for as Bitcoin attempts to break critical resistance levels. The analyst suggested that a drop to this price level may not be bad for Bitcoin and could instead be necessary for it to finally make that price rally.\u00a0 $57,938 Is The Price Level To Keep An Eye On CryptoCon mentioned in an X (formerly Twitter) post that $57,938 is the \u201cnew price to watch for the 20-week EMA (Exponential Moving Average).\u201d He noted that such a price drop might be necessary, stating that \u201cboredom and sideways price action allow room for growth.\u201d Based on his analysis, any potential price decline that Bitcoin experiences is a healthy correction and shouldn\u2019t be considered a bearish reversal.\u00a0 Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price? Meanwhile, Bitcoin is showing impressive strength on the charts, with CryptoCon stating that the flagship crypto \u201ccontinues to hold the 20-week EMA as support while visiting the almost absolute bottom of the cycle 4 DMI support zone.\u201d CryptoCon\u2019s positive outlook for Bitcoin provides assurance that a parabolic move is still on the horizon.\u00a0 Crypto analyst Rekt Capital also recently shared a positive outlook for Bitcoin. He revealed that Bitcoin was out of the \u201cDanger Zone,\u201d suggesting that the flagship crypto was primed for a move to the upside. The analyst also remarked that Bitcoin was running out of unremarkable months before it began its parabolic phase.\u00a0 Crypto analyst Mikybull Crypto hinted that Bitcoin was already showing signs of this imminent parabolic phase. In an X post, he mentioned that Bitcoin was displaying a cup and handle reversal pattern on the weekly chart and that the \u201cbreakout will be explosive and will send it to a cycle top.\u201d While agreeing with Mikybull Crypto\u2019s analysis, Crypto analyst BitQuant mentioned that $95,000 will be \u201cachieved in one move, and that is quite obvious.\u201d He, however, noted that it remains uncertain when this move will happen and called for patience as everyone waits for Bitcoin \u201cto perform as expected.\u201d BitQuant further advised that it might be better to leave the market for those who can\u2019t \u201cavoid the torture,\u201d claiming that there \u201cwill be a lot of pain for those with weak nerves\u201d in the coming months. Based on Arthur Hayes\u2019s prediction, investors might have to wait until August for that big move from the flagship crypto.\u00a0 Bitcoin Is Still Far From Its Market Top In a recent X post, Rekt Capital suggested that Bitcoin was still far from its market top. He highlighted past cycles, which show that the bull market peak usually occurs between 518 and 546 days after the halving. Based on this, the analyst predicts that the flagship crypto will likely peak in September or October 2025.\u00a0 Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True? The crypto analyst also acknowledged that Bitcoin has been accelerating in this cycle by over 200 days. However, he remarked that Bitcoin could resynchronize with past halving cycles if it continues to consolidate for longer.\u00a0 Featured image from CoinDesk, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":608172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,11434,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-608132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-analyst","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week<\/title>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week","url":"http:\/\/uniquehot.com\/news\/bitcoin-57938-level-to-watch\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-57938-level-to-watch\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_b5ed88.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_b5ed88.jpeg?fit=2560%2C1920"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin analyst","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-05-15T13:30:20Z","datePublished":"2024-05-15T13:30:20Z","dateModified":"2024-06-11T07:01:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-57938-level-to-watch\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-57938-level-to-watch\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_b5ed88.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_b5ed88.jpeg?fit=2560%2C1920\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin analyst\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-05-15T13:30:20Z\",\"datePublished\":\"2024-05-15T13:30:20Z\",\"dateModified\":\"2024-06-11T07:01:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_b5ed88.jpeg?fit=2560%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/608132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=608132"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/608132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/608172"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=608132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=608132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=608132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}