October has historically been one of these events BitcoinBest performing months, resulting in notable price increases over the years. Looking at Bitcoin’s price this month, many cryptocurrency analysts believe the digital asset may be preparing for a breakout that could spur a move to all-time highs.
Is there a big move for Bitcoin around the corner?
As October gradually comes to a close, the Titan of Crypto, market expert and trader, has done just that anticipation A notable Bitcoin breakthrough in the month commonly called “higher“, reflecting the long-awaited upward momentum.
The expert’s forecast indicates that the present is long Consolidation stage It’s about to end as crypto assets prepare for an imminent rally. Additionally, its bullish perspective stems from BTC moving above the monthly bullish pennant pattern, demonstrating the resilience of its renewed bullish strength.
According to Titan of Crypto, Bitcoin not only overcame the monthly bullish flag, but also recovered from the previous resistance which is currently acting as a support range. As a result, the expert claims that the next key price level to look out for is the $71,100 mark, which, if broken, could pave the way for further upward movement, perhaps to a new high. Highest level ever.
This bullish view of BTC is rapidly growing within the cryptocurrency community, indicating strong confidence and sentiment among enthusiasts and investors about the digital asset’s long-term potential.
Riccio Capital also did expected BTC hack in Octoberespecially during the week. After investigating Bitcoin’s current price action, the platform predicts that the asset could retest its all-time high at $74,000 in a week as it approaches a breakout from a descending channel pattern.
While the platform expects strong buying pressure, it claims that there may be a slight pullback after reaching the initial target at the current peak before the trend continues higher towards the pivotal price level of $79,000.
BTC’s renewed bullish momentum is seeing a setback
Riccio Capital’s prediction may be a success as Bitcoin has seen a minor setback since its latest uptrend began over a week ago, as… Bitcoin It rose from $59,400 to $69,170. This decline is due to a decline in the broader market, which indicates a Potentially volatile period For Bitcoin.
After hitting the $69,170 level on Monday, BTC saw a drop to $66,900 earlier today but has recovered slightly to $67,400 so far. Currently, the cryptocurrency asset is trading at $67,247, reflecting a 2% decline over the past 24 hours. Despite this decline, investors and traders remain confident in Bitcoin’s renewed strength as its trading volume has increased by more than 50% in the past day.
Featured image from Unsplash, chart from Tradingview.com