2024-5-10 19:15 |
The price of Bitcoin has taken a hit, going down by 7% over the past three days to trade around $61,000 as of this writing. However, one analyst believes the current pullback could merely be a pause before Bitcoin’s next major bull run.
X user and crypto analyst @Washigorira, known as “Titan of Crypto,” has spotted what they describe as a “falling wedge” pattern forming on Bitcoin’s chart. A falling wedge pattern is a bullish technical formation that often precedes a reversal and upside breakout.
According to Titan of Crypto’s analysis, the measured move from this potential falling wedge sets an upside target of around $74,000 for Bitcoin’s price. That would represent a gain of over 21% from current levels if achieved.
The analyst tweeted a chart showing Bitcoin’s price action along with the caption: “Bitcoin Back to $74,000 sooner than many expect? A falling wedge that seems to be currently playing out for BTC could catapult it back to $74k.”
.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less –Read Also: Meme Coin Mania: Dogwifhat, Pepe, and Dogecoin Surge as Crypto Market Cap Rises 7%
On-chain data seems to align with the bullish outlook as well. Blockchain analytics firm Santiment reported that large Bitcoin whales holding between 1,000 and 10,000 BTC have accumulated around $941 million worth of the crypto asset over the past day.
Santiment tweeted: “As Bitcoin ranges tightly between $61K and $64K, large whales have made some accumulation moves over the past 24 hours. Wallets with 1K-10K BTC have collectively accumulated ~$941M worth of coins, rebounding to their highest holding level in 2 weeks.”
Increasing accumulation by large holders is often viewed as a bullish signal, as whales tend to buy in anticipation of further price gains.
While past performance is not indicative of future results, the combination of potential bullish technicals and on-chain activity suggests that Bitcoin may have more upside left despite the recent bout of selling pressure.
Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Analyst Sees Bitcoin Spike to $74k Following This Ongoing Retest: BTC On-Chain Data Supports Bullish Prediction appeared first on CaptainAltcoin.
origin »Bitcoin (BTC) на Currencies.ru
![]() ![]() ![]() ![]() ![]() ![]() |