Bitcoin price analysts are closely examining charts, but one expert believes it is pointless until the cryptocurrency approaches its all-time high once again. Mati Greenspan, founder of Quantum Economics, stated that analyzing the charts is futile without a breakout. He also mentioned that there is a lot of noise from crypto traders and analysts providing market commentary at the moment. Greenspan pointed out that the range between $50,000 and $70,000 is significant, and anything that happens within this range is less significant. Currently, Bitcoin is trading at around $65,585, and a 6.7% increase would push it to $70,000, which many analysts believe is on the horizon.
The significance lies in a $70K breakout, Bitcoin analysis considered mostly as background noise.