While Bitcoin is hovering around $73,000, a crypto trader says the current 
setup is “different from the previous breakdown in February.”

While Bitcoin is hovering around $73,000, a crypto trader says the current setup is “different from the previous breakdown in February.”

Bitcoin is at ‘pivotal level’ as $65K downside risk looms: Analyst

Bitcoin is attempting to stabilize after a sharp pullback, but uncertainty 
remains the dominant market force. While key support levels are still holding 
and leaving room for a recovery rally, bearish signals remain present, raising 
the possibility that any short-term bounce could turn into a bull trap. 
Retesting Key Rising Channel Support According to Bitcoin Meraklısı, recent 
market volatility has forced Bitcoin to retreat to the rising trend channel 
that has defined its structure since February. This is a critical technical 
juncture, as the asset is currently testing this support line. For the moment, 
the defense remains successful, and Bitcoin continues to hold within the 
channel, suggesting that the structural integrity of the uptrend is still 
intact. Related Reading: Bitcoin At A Crossroads: Two Key Levels Will Define 
BTC’s Next Major Move, Analyst Says As long as this support level remains 
unbroken, there is no immediate cause for concern with the outlook. The 
primary objective for the bulls is a recovery toward the channel&#8217;s middle 
band, targeting the $79,000 to $82,000 range. Should buying momentum persist 
beyond that threshold, a continuation toward the channel’s upper boundary 
becomes the logical technical target for the asset. Conversely, a failure to 
maintain this support would cause a shift in market strategy. A decisive 
downward break of the channel would likely trigger a correction equal to the 
channel&#8217;s total width, bringing the $62,000 region into focus. This potential 
breach serves as a stark reminder that while the current setup is 
constructive, the margin for error is narrowing as we navigate this pivotal 
decision zone. Bitcoin Meraklısı emphasizes that the market is currently in 
transition, with technical signals largely subservient to external catalysts, 
and price action remains heavily contingent on news flow from the war front. 
Bitcoin Remains Trapped Inside An Expanding Wedge Pattern Speaking in a recent 
market update, Tryrex noted that Bitcoin continues to consolidate within an 
expanding wedge pattern. The current technical outlook anticipates one final 
upward surge, with the $75,000 level identified as the primary target for a 
potential short position. This zone serves as the focal point of the analyst’s 
strategy to capitalize on the expected price exhaustion at this critical 
resistance area. Related Reading: This Key Bitcoin Metric Suggests The Market 
Is Now Entering A Phase Of Calm The broader market remains locked in a robust 
downtrend, which severely limits the potential for any substantial recovery 
toward previous peaks. According to the analyst, a retest of the $76,000 high 
is now highly improbable, as the prevailing selling pressure is simply too 
intense to allow such a sustained upside move. This phase of price action is 
best characterized as the calm before the storm, where the market appears to 
be staging one or two final, deceptive bounces. The analyst warns that these 
remaining upward movements are likely precursors to a significant market 
crash. Featured image from Getty Images, chart from Tradingview.com

Bitcoin is attempting to stabilize after a sharp pullback, but uncertainty remains the dominant market force. While key support levels are still holding and leaving room for a recovery rally, bearish signals remain present, raising the possibility that any short-term bounce could turn into a bull trap. Retesting Key Rising Channel Support According to Bitcoin &#8230;

Bitcoin Recovery Rally Or Bull Trap? These Key Levels Hold The Answer

The escalating conflict reduces chances for diplomacy, potentially prolonging 
instability and impacting regional geopolitical dynamics.
The post Lebanon accuses Israel of &#8220;scorched-earth policy&#8221; amid expanded 
invasion appeared first on Crypto Briefing.

The escalating conflict reduces chances for diplomacy, potentially prolonging instability and impacting regional geopolitical dynamics. The post Lebanon accuses Israel of &#8220;scorched-earth policy&#8221; amid expanded invasion appeared first on Crypto Briefing.

Lebanon accuses Israel of “scorched-earth policy” amid expanded invasion

CME Group now offers nonstop trading for cryptocurrency futures and options, 
expanding regulated access for bitcoin and other digital asset derivatives. 
The change gives traders a way to respond to weekend, overnight, and holiday 
market moves through CME Globex. CME Group Expands Crypto Access With Around- 
the-Clock Trading CME Group announced on X on May 29 […]

CME Group now offers nonstop trading for cryptocurrency futures and options, expanding regulated access for bitcoin and other digital asset derivatives. The change gives traders a way to respond to weekend, overnight, and holiday market moves through CME Globex. CME Group Expands Crypto Access With Around- the-Clock Trading CME Group announced on X on May &#8230;

CME Launches 24/7 Bitcoin and Crypto Futures Trading

Iran&#8217;s stance may lead to prolonged diplomatic tensions, impacting regional 
stability and global nuclear non-proliferation efforts.
The post Iran refuses uranium surrender, stalling US agreement talks appeared 
first on Crypto Briefing.

Iran&#8217;s stance may lead to prolonged diplomatic tensions, impacting regional stability and global nuclear non-proliferation efforts. The post Iran refuses uranium surrender, stalling US agreement talks appeared first on Crypto Briefing.

Iran refuses uranium surrender, stalling US agreement talks

Asian tech firms, crucial to AI hardware, face valuation risks and 
geopolitical challenges amid surging demand from US AI investments.
The post OpenAI, SpaceX funding fuels bets on next-wave Asian AI winners 
appeared first on Crypto Briefing.

Asian tech firms, crucial to AI hardware, face valuation risks and geopolitical challenges amid surging demand from US AI investments. The post OpenAI, SpaceX funding fuels bets on next-wave Asian AI winners appeared first on Crypto Briefing.

Bitcoin is at ‘pivotal level’ as $65K downside risk looms: Analyst

Comments