Bitcoin ($BTC) continues its trading range between a low of around $97,000 and a high of $112,000. Cryptocurrency analyst Daan Crypto Trades (@DaanCrypto) provides insights into the current market setup, highlighting crucial levels to watch for potential trading opportunities. 💰 📈 His recent tweet offers valuable perspectives:
* **Bitcoin’s Range:** The cryptocurrency is currently trapped within a defined range, with no significant breakout yet. \n* **Key Levels:** Daan Crypto Trades suggests a potential support area in the $97,000-$99,000 region. This level aligns with the .382 Fibonacci retracement level, the mid-range and 200-day moving average, creating a potential rebound zone.
For more insight into this rangebound market, here’s what Daan Crypto Trades noted:
* **The Tweet:** Daan highlights his strategy: waiting for either a dip to the $97K-$99K range or a decisive break above $112K. This approach emphasizes patience and disciplined trading. 🧘♂️
* **CoinDesk Insights:** According to CoinDesk on May 14, 2025, recent on-chain metrics suggest bearish divergence and declining open interest, which could indicate a double top pattern similar to the 2021 cycle peak. This warning of a potential reversal adds caution to current market sentiment.
* **KuCoin Learn Insights:** The post also provides insights on Fibonacci retracement levels, highlighting their effectiveness in identifying stable support and resistance levels. 📊
Daan’s analysis emphasizes patience as a key strategy for navigating Bitcoin’s current range-bound movement. As the market develops, these potential levels will become crucial to watch for the next significant move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.