Bitcoin Closes In On $69,000: Here's When It Could Hit An All-Time High
Portfolio Pulse from Khyathi Dalal
Crypto trader Cold Blooded Shiller predicts a bullish outlook for Bitcoin, highlighting technical analysis and market psychology as key factors for a potential breakout. Bitcoin's recent price action shows an uptrending structure, and surpassing $70,000 could lead to a rapid move towards $77,000-$80,000. The trader emphasizes the strong weekly RSI and the psychological market sentiment as indicators of a possible surge.
October 18, 2024 | 5:40 pm
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Bitcoin is showing a bullish pattern with potential to break $70,000 and move towards $77,000-$80,000. Technical indicators like the weekly RSI and market sentiment suggest a possible surge.
The article highlights a bullish technical pattern for Bitcoin, with a higher high and higher low on higher timeframes. The trader's analysis suggests that surpassing $70,000 could lead to a rapid increase to $77,000-$80,000. The strong weekly RSI and current market sentiment, which is less focused on Bitcoin, are seen as supportive of a breakout. These factors contribute to a positive short-term outlook for Bitcoin's price.
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