Technical analyst DonAlt sees a potential market structure break in Bitcoin’s weekly close, with a focus on the $64,200 level. While emphasizing the importance of consistent analysis, he highlights the significance of the weekly open for both conservative and aggressive trading strategies. He also expresses cautiousness on altcoins, preferring Bitcoin for bullish positioning.
Veteran technical analyst CryptoCred believes Bitcoin is nearing a pivotal moment, potentially shifting from a bearish to a bullish market structure. While the price has been forming lower highs, indicating bearish momentum, a weekly close above $64,000 could signal a bullish break, according to CryptoCred’s analysis. Meanwhile, another analyst highlights the significance of the 200-day SMA as a key level to watch, suggesting a failure to reclaim this support could lead to a significant correction.
