Bitcoin quotes returned to the upward trend line on the 4-hour timeframe. Thus, we can now conclude that BTC is again trapped inside the triangle, the upper line of which is the level of $40,746. Consequently, the future of bitcoin now depends on which side of the triangle will eventually be overcome. If it is the top, then the upward movement will continue with the targets of $43,852 and $47,070. And if it is the lower part, then the Senkou Span B line and the level of $30,500 will continue to fall with targets. Meanwhile, fierce competition continues between crypto analysts and crypto billionaires. Recall that the former are not inclined to forecasts from the category "bitcoin will rise in price in any case to at least $100,000", and the latter, who are just interested in the constant growth in value, continue to pour even more crazy forecasts. According to crypto experts, bitcoin has practically exhausted its growth potential in the short term at this time. Many technical indicators speak in favor of the fact that quotes may drop to the level of $34,000 per coin in the near future. With regard to the more distant prospects, crypto experts are also not overwhelmed with enthusiasm, and they believe that the "bullish" trend is over and it will take a long time for all participants in the cryptocurrency market to return and want to invest in bitcoin again. Of course, not all market participants left it. However, in order for Bitcoin to return at least to its annual maximums around the level of $65,000, it is necessary that the demand also be at the level of April indicators. In the meantime, many (except MicroStrategy) are afraid of new investments in bitcoin. On the other hand, crypto billionaires and investors, who are somehow connected with bitcoin, continue to assure of the clear future of "digital gold" and prophesy to it almost crowding out all fiat money. At least most of them believe that bitcoin will continue to strive to capitalize on gold, and in a few years bitcoin will become an international and ubiquitous unit of calculation. They prefer not to mention the fact that bitcoin is extremely rarely used to pay for goods and services, as well as the fact that the governments of many countries of the world have set a course for a serious tightening of the turnover of cryptocurrencies. We would say that in the past few months, the prospects for Bitcoin to become a global cryptocurrency, which will be used for settlements on a par with fiat money, has greatly decreased. However, we recall that it is beneficial for all Bitcoin owners to increase the interest of other investors in cryptocurrency. This is because the more new investments go to the network, the more bitcoin will grow and bring profits to the current owners.
Technically, bitcoin quotes pushed off the level of $40,746 on the 4-hour timeframe. Thus, at the moment, we can conclude that a new round of falling quotes has begun with targets around the levels of $35,000 and $30,500. However, a lot will now depend on the upward trend line. If it cannot be overcome, the upward movement can be restored.
