Bitcoin Holds Support as Leverage Cools
- Bitcoin has been held in a tight range around $63,000 with buyers holding up $62,800, and sellers holding back advances above $63,100.
- Pressure on leverage has eased a bit in the derivatives market since the May and June highs, due to a decline in liquidation activity.ย
- A breakout above $63,100 could shift momentum, while losing $62,800 would expose the market to deeper weakness.
Bitcoin remains locked near $63,000 as buyers defend support, while tightening price action and reduced liquidations shape the marketโs next directional move.
Bullish Targets Face a Technical Test
In the latest post, Shahnawaz has forecasted massive gains in the Bitcoin, Ethereum, Solana, and Altcoin spaces. He thinks that Bitcoin is going to reach $250,000 in 6-12 months. He also thinks the price of Ethereum will be more than $8,000 and Solana will be more than $500 in the same period.
A long time frame chart along with repeated Climax and troughs. A prior crest was around $69,000 followed by a drop to about $17,000. This was a pullback of about 52% from the previous cycle's peak.
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