Bitcoin’s potential breakout at $70K may incite a rally for BNB, AR, XMR, and TIA.

Bitcoin (BTC) is encountering resistance above the $70,000 level, but the fact that the bulls have not given up much ground to the bears is a positive sign. This week, Bitcoin has only seen a slight decrease of just under one percent.
The range-bound movement of Bitcoin in recent days has not deterred investments in spot Bitcoin exchange-traded funds. Data from Farside Investors shows that more than $2.1 billion in net inflows have been made into Bitcoin ETFs since May 14. This indicates that investors are accumulating Bitcoin in anticipation of a potential upward breakout.
Renowned trader Peter Brandt is optimistic about Bitcoin’s long-term prospects compared to gold. He predicts that the ratio of gold to Bitcoin will remain volatile for another 12-18 months, but after that, the rally could reach a new high where it would take 100 ounces of gold to buy one Bitcoin. Currently, one Bitcoin is worth approximately 29 ounces of gold.
Could Bitcoin rebound from key support levels and drive the cryptocurrency market higher? Let’s analyze the charts of the top five cryptocurrencies that may lead the recovery.
Bitcoin Price Analysis
On May 31, Bitcoin briefly dropped below the support line of a symmetrical triangle pattern, but the bears were unable to sustain the lower levels. This suggests that the bulls are still buying on dips.
To gain the upper hand, the bulls will need to push and maintain the price above the triangle. If they succeed, the BTC/USDT pair could rise to the overhead resistance of $73,777. However, overcoming this barrier may prove challenging. If the bulls manage to do so, the pair could surge to $80,000.
On the contrary, if the bulls fail to stage a strong rebound from the current level, it would increase the likelihood of a breakdown below the triangle. In that case, the pair might decline to the 50-day simple moving average ($64,956) and then to $61,000.
Bitcoin has been trading within the range of the 50-day simple moving average and the support line of the symmetrical triangle pattern. The bears will attempt to strengthen their position by pushing the price below the support line. If successful, the pair could drop towards the pattern target of $61,500.
However, if the price rises above the moving averages, it would indicate that the bears are losing control. This could lead the BTC/USD pair to climb towards the resistance line of the triangle, where the bears are expected to put up a strong defense. If the bulls manage to break through, the pair could continue its journey towards $73,777.
BNB Price Analysis
BNB has been trading above the moving averages in recent days, signaling strong defense from the bulls.
The bulls will try to drive the price towards the overhead resistance of $635. A break and close above this level could initiate the next leg of the uptrend, with a pattern target of $775.
On the other hand, if the price turns down and breaks below the uptrend line, it would invalidate the ascending triangle pattern. This could lead to increased selling pressure and a decline towards $536.
The pair has risen above the moving averages, indicating a potential comeback from the bulls. There is a minor resistance at $615, but if this level is surpassed, BNB price could reach $635. The 20-exponential moving average is gradually turning upwards, and the relative strength index (RSI) is in positive territory, giving the bulls a slight advantage.
This optimistic view would be invalidated if the price turns down and falls below the uptrend line. This could trigger a deeper correction towards $560 and later $536.
Arweave Price Analysis
Arweave rebounded strongly from the 50-day simple moving average, indicating aggressive buying at lower levels.
Resistance is expected in the zone between $47.51 and $50, but the rising 20-day exponential moving average and positive RSI suggest that the path of least resistance is to the upside. A break above $50 would complete an inverse head-and-shoulders pattern, opening the door for a new uptrend with a pattern target of $72.
However, if the price turns down from the overhead zone, it would signal that the bears are not giving up. The AR/USDT pair could then slide towards the moving averages, which are likely to act as strong support levels. The bears would need to push the price below $36 to gain control.
On the 4-hour chart, the price was rejected at the overhead resistance of $47.51 but found support at the 20-EMA. This suggests that the bulls are trying to defend the 20-EMA and could attempt to overcome the resistance once again. If successful, the pair is likely to gain momentum and surge to $57.
A break below the moving averages, however, would weaken the bullish momentum and could lead to a decline towards $37.
Monero Price Analysis
Monero has been steadily climbing higher in recent days. The price broke above the downtrend line on June 1, indicating that the correction may be coming to an end.
The up move may face strong selling near $153.44, but the bulls are expected to buy the dips towards the 20-day exponential moving average. If they do, the chances of a break above the overhead resistance would increase. The XMR/USDT pair could then attempt a rally towards $170.
On the downside, if the price sharply turns down and breaks below the 20-day exponential moving average, it would signal that the bulls are losing control. This could trigger a deeper correction towards the 50-day simple moving average.
The 4-hour chart shows a gradual upward movement, but the bulls are likely to encounter strong resistance at $153.44. If the price turns down from this level but finds support at the moving averages, it would indicate that the sentiment remains bullish. The buyers would then make another attempt to break through the resistance.
On the downside, the moving averages are key support levels to watch. A break below the 50-SMA could signal the start of a deeper correction towards $137 and subsequently $130.
Celestia Price Analysis
Celestia has been trading above the moving averages, suggesting that the bulls are attempting a new upward move.
The bullish crossover of the moving averages and the positive RSI indicate that the bulls have the upper hand. To confirm the start of a new up move, the price must surpass the overhead zone between $12.02 and $12.90. If this resistance is breached, the TIA/USDT pair could rally towards $15.50 and later $18.50.
However, if the bulls fail to push the price above the overhead zone, it would indicate that the bears are active at higher levels. A break below the moving averages could keep the pair range-bound for some time.
On the 4-hour chart, the pair was rejected at the near-term resistance of $11.60 and fell towards the 20-EMA. A strong rebound from the 20-EMA would suggest demand at lower levels. The pair could then rise towards the overhead resistance of $12.02.
A continued decline below the 20-EMA, however, would weaken the bullish momentum. The pair may then slump towards the 50-SMA, which is expected to provide strong support.
Disclaimer: This article is for informational purposes only and does not constitute investment advice or recommendations. Every investment and trading decision carries risk, and readers should conduct their own research when making a decision.