New record for Bitcoin: analysts shared on the continuation

Bitcoin’s historic record (ATH) was at the center of Crypto social networks this week, almost half of all the mentions discussing this recent milestone reached by the original currency. Even if the piece posted a sharp increase during this period, experts believe that this level of domination could lead to a short -term summit and generally precede a brief retrace.

Santly alert to the Fomo while Bitcoin broke a record

L'Santiment analystBrian Quinlivan, noted that a sharp increase in social dominance has followed the overtaking by the BTC of $ 123,100 for the first time since its creation. In his report published on Wednesday, Fortlivan said that 43.06 % of all Crypto discussions focused on the very first active.

However, the Santiment analyst said that this sudden peak translated a FOMO reaction from the particular traders, gathered around the asset at its top. This analysis contradicts the opinion of several other Crypto commentators, according to which private investors have not yet launched on the market.

Following the rise of the BTC to a new Ath of $ 117,894 on July 11, André Dragosch, research manager at Bitwise, recognized that private investors remain largely absent.

Despite the growing enthusiasm around the assets, Brian Quenti stressed that a peak in the Bitcoin mentions on social networks generally precedes withdrawal phases. He thus urged market players to wait for the euphoria to fall before taking a stand.

Wait until the euphoria calms down a little, and you will probably find another key entry point that is being prepared.

Brian Quinlivan

Fiflivan had initially warned that the previous peaks of optimism, especially on June 11 and July 7, had been followed by price reductions.

Bitcoin climbs as the market is racing, according to experts

While Fortlivan adopts a rather cautious position on the Crypto OG, some market commentators believe that the rise in bitcoin could continue. The cryptocurrency analyst, Axel Adler Jr., even suggested that the asset has not yet reached its summit, stressing the absence of a peak signal.

For context, a peak signal generally appears when the market is overheating and a correction becomes imminent.

After reaching a new ATH, renowned market analyst Ali Martinez said that the first-born asset had achieved a first price objective after be out of a parallel channel. He added that the next key targets are $ 131,000, $ 144,000 and $ 158,000.

The BTC ready for a break while the bruise indicators point to a sustained upward trend

While Bitcoin evolves above a major psychological threshold, investors are closely monitoring a possible new bullish impetus. Interestingly, Darkfost data indicate that the Bitcoin growth rate indicator continues to issue positive signals.

The price action indicator continues to offer valuable perspectives on the trajectory and solidity of the market. After several months of a difficult context, the most recent data suggests a possible entry into a healthier phase for Bitcoin.

What the technical indicators say on the BTC:

• Haussier alignment of mobile averages: SMA 50 days ($ 112,152.29) is maintained above SMA 100 and 200 days, and continues its progression, a sign of a sustained trend.
• Robust annual performance: BTC has jumped 78 % over the last 12 months, surpassing 78 % of the 100 main crypto active ingredients, while remaining behind Ethereum in terms of yield.
• Negotiation above a key support: the price remains above SMA 200 days, consolidating a long-term upward trend.
• Daily positive dynamics: BTC recorded 18 days in the last green in the last 30 days, a ratio of 60 %, strengthening the hausstone feeling in the short term.

At the time of writing, Bitcoin is exchanged at $ 118,640, down 4 % compared to its highest history of $ 123,091. According to analysts, if the price is maintained above $ 115,700 and manages to stabilize over $ 122,000, a new flight to new peaks could take shape.

On the other hand, a fall under $ 115,700 could lead to a more marked withdrawal to SMA 50 or even the threshold of $ 110,000. For the time being, price action and background trends of the market suggest that the current Bitcoin consolidation would be a brief break before the next upward impulse.