You can also read our article on After hitting an all-time high Since March 2024 when the Bitcoin price reached $73,400, it has retraced and remained below the all-time record high. Expectations remain high for the Bitcoin to eventually rise. hit a new all-time highFor crypto analysts “Melikatrader94” TradingView predicts another surge to $76,600.
Bitcoin Charts Turn Bullish
Crypto analyst Melikeatrader94 shared his analysis on TradingView. revealed Her thesis on why Bitcoin could reach a new high. Bullish chart patterns are the main reason for this prediction.
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The analyst pointed out the Bitcoin’s price successfully broke out from a downward trend line. A break like that indicates the return of bullish forces, which causes prices to increase. Bitcoin may push towards its highest levels from here. current all-time high price.
The chart has been confirmed by multiple sources, indicating that it is accurate. resulting rally The break from the descending line could be extremely strong. Crypto analyst warns that corrections will occur along the way. The Bitcoin price will ultimately go up.
BTC Targets
Crypto analyst, according to the report, believes that Bitcoin will reach a new high with the breakout of the trendline. The price is expected to rise up until $77,604 as the Bitcoin breaks out from its descending line. Bitcoin will not have an easy time as it faces major resistance.
Crypto analyst, first of all, believes the BTC risk is a downward correction When it finally reaches $70,000, the first major hurdle is cleared. The first obstacle to be overcome before reaching a new record-breaking high is this major hurdle.
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Bitcoin will likely regain its all-time record if it can surpass $70,000. But it is facing major resistance in a very short distance. The analyst’s next resistance level $73,612 is the entry level. This is why the analyst feels that $73,612 and $70,000 could be re-entry levels.
According to the predictions of the crypto analysts, Bitcoin’s price may see an increase in value by 15% from its present level. The price of Bitcoin could also rise by 15% from its current level. BTC price hitting a new all-time high It would be a positive thing for the market, given that altcoins are following the path of the original cryptocurrency.
Featured Image created using Dall.E and chart from Tradingview.com
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Source: www.newsbtc.com
