Bitcoin (BTC) has dropped to a four-month low of $60,000, currently trading at $61,500. Cryptocurrency analyst CrypNuevo predicts that BTC will climb back to the $67,000 price level by the end of July.
CrypNuevo shared this analysis in his “Sunday Update” on X on June 30. He anticipates a volatile week ahead due to macroeconomic news, such as the MiCa regulation in Europe and economic data from the United States, including non-farm payroll, unemployment rate, and FOMC minutes.
The analyst highlights three key Bitcoin levels to watch in the next two to three weeks. He expects Bitcoin to test resistance at $64,000, dip to $59,000, and then surge to $67,000.
CrypNuevo identifies two key liquidity areas: $62,500 to $63,500 in the short term and $67,100 in the mid-term. These are targets that large cryptocurrency holders typically aim for when initiating market squeezes.
He notes a long wick on the chart that needs to be filled to balance open interest gaps, which he believes will likely happen soon.
CrypNuevo projects a three-phase movement for Bitcoin in the coming weeks. First, BTC may move up to $64,000, then retrace to around $59,285, and finally surge to $67,000 after forming a potential accumulation range.
Traders are advised to monitor these key levels and prepare for potential price fluctuations. Despite short-term volatility, the overall trend indicates a positive outlook for Bitcoin in the near future. Notably, three out of four BTC traders on Binance have opened long positions in the last 24 hours.
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