- BTC price currently trades around $71K with a surge of 0.23% over the past 24 hours.
- The Relative Strength Index stands at 62.09 in the overbought zone.
Bitcoin bulls are struggling to sustain the price range between $ 69K-$71K range. The duel of bulls and bears fluctuates the BTC price but analyst predicts that sooner the asset may take up the bullish rally. The ignited record high of Bitcoin’s $94 trillion in global liquidity, that the worldwide liquidity is nearing $100 trillion. This was revealed by the founder of the on-chain data platform, LookIntoBitcoin, Philip Swift. This may set the potential of the BTC price to move upside.
Robert Kiyosaki, author of Rich Dad Poor is popular for his pro-Bitcoin stance and has recommended his followers buy gold, silver, and BTC on several occasions. Also stated his dislike for Wall Street’s financial products. He has made an overwhelming prediction for Bitcoin’s (BTC) price in the next two months. In the latest tweet, Kiyosaki said he is confident that BTC will be $350,000 by August 25, 2024.
At the time of writing, Bitcoin had yet to surpass its all-time high of $73,750 and hovering around $71,099, up by 0.23% in the past 24 hours. And over the past week, it was up by 4.27%. Its current market cap is $1.40 trillion. The 24-hour trading volume at $26.44 billion, down by 3.37%.
Will BTC Hit Past $72K Anytime Soon?
Despite reaching a new week high above $71,677, the price dropped down to $71,184. And, Bitcoin’s daily Relative Strength Index (RSI) stands at 62.09, in the overbought zone which infers that BTC is focusing on the bull run, indicating a price surge.
After analyzing the price momentum of BTC, If the bulls aid the price to remain above $71,000 and continue to increase, the initial resistance could be at the $72,190 level, assuming the bullish trend continues, the next key resistance is to be found at the $72,970 range. A further surge will take the price towards the $73,000 range.
In contrast, if the bulls fail to advance and the bears take the lead, the price may dip to the $70,000 support zone. If It continues to dip, the immediate key support is in the $69,210 range. The further dip might drive the price toward the $68,000 level.
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