Bitcoin Price Analysis: BTC/USD set for $6000 and beyond return

Bitcoin price in the latter part of Wednesday’s session is holding some minor gains of 0.7%.
BTC/USD price action has formed a bullish flag pattern, subject to a potential breakout to the upside.

Ken Chigbo Independent Analyst

The Bitcoin price in the latter stages of trading on Wednesday is seen trading up with gains of some 0.7%, as a continuation of consolidation can be observed across the entire market. The next definitive trend is eyed, after the aggressive push higher at the start of the month, which lost much momentum.

BTC/USD price action is moving within a bullish flag pattern formation via the 60-minute chart view. Given the current behaviour and technical near-term structure, it suggests of a potential imminent breakout to the upside.

Immediate resistance is eyed at around the range of $5250-300 price range, where the upper acting trend line of the flag formation is tracking. A break and closure above here via the 60-minute view, will likely see anther wave of buying pressure.

BTC/USD 60-minute chart view

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.