Bitcoin Price Prediction Xiaoshan predicts that BTC will rise explosively Learn To Earn Presale exceeds 2 million US dollars

Join our Telegram channel for breaking news coverageBitcoin price has dropped nearly 3% in the past 24 hours, with a surge of 98% in volume, and is currently trading at $67,637. With this drop, Bitcoin price has broken out of three days of consolidation, with the strong decline consolidating the breakout of an ascending parallel channel. As a result, BTC is gradually heading towards a more bearish state, and the situation could get worse if the 38.2% Fibonacci level at $67,114 is breached. Meanwhile, well-known Bitcoin veteran Samson Mow predicts that Bitcoin price will explode higher. He believes this is because “some entities are massively shorting [Bitcoin] in the futures market,” adding that they will likely be liquidated soon as Bitcoin’s price explodes northward. This is consistent with my analysis. With many left-skewed traders confidently explaining that “the increase in shorts is just cash and carry trades,” it’s no wonder we’re seeing so many liquidations on a regular basis. It’s like the carry trade didn’t exist before this week…Bitcoin is being held down below $0.07 like a compressed spring. It won’t be long before the upward momentum explodes. His assertion matches what Bitcoin investor Quinten said on May 9 that Bitcoin prices were suppressed despite the pile-up of ETF trading. Like Mow, Quinten attributed this to record highs from hedge funds that are shorting Bitcoin. When hedge funds short Bitcoin, they bet that the price will fall. This can put downward pressure on prices as these funds sell off holdings or profit from derivative contracts. It is worth noting that these moves are often calculated by the same hedge funds or smart money to accumulate assets at low prices in anticipation of a short squeeze. A short squeeze in Bitcoin trading is when the price of Bitcoin rises sharply, forcing traders who are short (betting on a price drop) to close their positions by buying Bitcoin. This sudden buying activity fuels the price increase and creates a self-reinforcing cycle. Here, more short sellers are forced to buy back their positions at higher prices, further pushing the price higher. This can cause large price swings in the market. Bitcoin price has breached the 23.6% Fibonacci retracement level of $69,581. Investors should exercise caution as it tests into the Fibonacci golden zone between the 38.2% and 61.8% Fibonacci Retracement levels. There is a chance that Bitcoin price will recover as the Relative Strength Index (RSI) has not yet confirmed a sustained move southwards to form lower lows. Therefore, BTC could bounce back to the 38.2% Fibonacci Retracement level of $67,114, offering another buying opportunity. The MACD being in positive territory supports this view. In case of recovery, only a candle close above $72,000 would confirm the continuation of the uptrend. This could see Bitcoin price climb further to recapture the $73,570 peak. Conversely, if the RSI produces lower highs, Bitcoin price could extend its downtrend. A break below the 50% Fibonacci placeholder at $65,120 could trigger panic selling. However, only a close below the 61.8% Fibonacci Retracement level at $63,125 would negate Bitcoin’s big picture bullish outlook. Meanwhile, investors are flocking to 99BTC, a way to learn and earn crypto, which has raised over $2.1 million in its presale. YouTuber Today Trader says it has “huge potential.” 99BTC is the power token of the 99Bitcoins ecosystem, a long-established educational platform that is pioneering a new model of learning and earning rewards. With the best educational resources and visual learning courses for crypto beginners, this project has become one of the most trusted names in the cryptosphere. The project dates back to 2013. Starting out as BitcoinWithPayPal.com, what was once a simple domain has now transformed in the Web3 era in the form of the 99BTC token, 99Bitcoins promises a unique learn-and-earn experience for site users. 99BTC has been at the forefront of crypto education since 2014. Experienced Guidance: Decades of combined knowledge. Broad Range: Covers multiple cryptocurrencies. Learn and Earn: Get Rewarded While You Learn! Get Started: 99BTC tokens are currently priced at $0.00108 each. But that’s set to change in less than a week, so don’t wait too long to get the best deal. Head here to buy 99Bitcoins. Also Read:99Bitcoins Price Prediction – 99BTC Profit Potential in 202499Bitcoins Launches New Learn and Earn Airdrop Presale – TodayTrader Video ReviewBest Penny Crypto Investment: Top Picks for Explosive Growth Potential in 202499Bitcoins (99BTC) – New Learn and Earn Token Rating. Audited by Solid ProofFounded in 2013. Free Airdrop – Win a Part of $99999. Learn and Earn – Get Paid for Completing Trading Courses. 700,000+ YouTube Community. Access Presale. Join our Telegram channel to stay up to date with breaking news coverage.