Bitcoin Bull Run Incoming? Analyst Advises: Keep An Eye On Potential Upside Wicks
Portfolio Pulse from Murtuza Merchant
Crypto analyst Rekt Capital has analyzed key price ranges for Bitcoin (BTC) and Ethereum (ETH), suggesting that Bitcoin's bearish trend may be ending. Bitcoin's monthly performance has risen by over 14%, with a potential monthly range formation between $27,150 to $30,450. Observers are advised to watch for 'Fear Of Missing Out' (FOMO) wicks as the month ends. A monthly close beyond this range high is essential for upside continuity. On a weekly timeframe, Bitcoin's price showcases a different range, approximately between $25,880 to $30,630. If Bitcoin fails to break the range's high resistance, a downward movement within this range might be the next course of action.
October 24, 2023 | 3:09 pm
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Bitcoin's bearish trend may be ending, with a potential monthly range formation between $27,150 to $30,450. If Bitcoin fails to break the range's high resistance, a downward movement within this range might be the next course of action.
The analysis by Rekt Capital suggests that Bitcoin's bearish trend may be ending. However, the future trajectory of Bitcoin's price will depend on whether it can break the range's high resistance. If it fails to do so, a downward movement within this range might be the next course of action.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The analysis also covers Ethereum, but no specific details or predictions were provided for this cryptocurrency.
The analysis by Rekt Capital mentions Ethereum, but it does not provide any specific details or predictions for this cryptocurrency. Therefore, the impact on Ethereum is uncertain.
CONFIDENCE 50
IMPORTANCE 50
RELEVANCE 50