Bitcoin’s Market Structure Indicates Re-Accumulation Zone and Potential Price Target of $65,065

Are you a Bitcoin investor wondering about the current market structure and potential price targets for BTC? Well, here is some good news for you! According to crypto trader Rekt Capital, Bitcoin has entered a re-accumulation zone, signaling a possible bounce to $65,065 once the coin recovers.

In a recent post on X (formerly Twitter), Rekt Capital shared a chart showing how Bitcoin has satisfied the post-halving correction and is now on the verge of leaving the danger zone entirely. Drawing parallels to the 2016 post-halving cycle, the analyst highlighted the possibility of a significant price surge in the upcoming months.

The recent dip in Bitcoin’s price, down to $60,509, led to a 5.61% decrease in the last seven days, resulting in the liquidation of many BTC contracts in the market. However, data from Hyblock suggests that there is a magnetic zone around the liquidation levels, indicating a potential price movement towards $65,065 in the short term if BTC bounces back.

Furthermore, Glassnode’s Hodler Net Position Change metric shows that long-term investors have been accumulating Bitcoin since the beginning of May. This shift from profit-taking to accumulation could sustain the momentum for Bitcoin to trade above $60,000 in the coming days, setting the stage for a parabolic upside in the long term.

Despite these positive signs, traders are advised to remain cautious as Bitcoin may still experience two more days of downside before beginning a gradual uptrend. So, keep a close eye on the market and stay informed about the latest developments to make smart investment decisions.

For more insights on Bitcoin’s price prediction for 2024-2025, check out our detailed analysis. Remember, knowledge is power in the world of cryptocurrency trading!