Bitcoin Completes Retest Phase: Only One Thing Left For A $110,000 Price By December

Quick Summary:

Looking at the Bitcoin price chart below, the initial breakout noted by EGRAG CRYPTO goes as far back as February 2024, when the top coin broke out above $47,000.  What this means is that when looking at the weekly timeframe, Bitcoin’s journey to the peak/all-time high of $73,737 on March 14, the correction up until a low of $49,800 on August 5, and the recent return above $73,000 are all part of one large breakout and retest move that has played out for the last 38 weeks.  What’s Next For Bitcoin?

Bitcoin Completes Trendline Retest Technical analysis of the Bitcoin price indicates a breakout from a resistance trendline in the middle of October.

Interestingly, EGRAG also noted that the only thing left to certify this run is for the price to close the week in a green zone.  Related Reading: Will Bitcoin Hit $176K?

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Btc Bitcoin price analysis Bitcoin Crypto Bitcoin Btcusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 20:00:09 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 461 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23385062

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