CandleFocus Analyst Awaits Bitcoin Monthly Breakout Candle for Potential Multi-Month Rally
2024-10-17
Author: Content Editor
Analyst Aksel Kibar predicts a potential multi-month uptrend for Bitcoin if key resistance levels are broken. He highlights historical breakout patterns and identifies critical levels in Bitcoin's price history that could influence future trends. Recent data from market intelligence platform Santiment supports the notion of a bullish trend, as whale transactions reach a ten-week high and Bitcoin's dominance in social media discussions increases. However, analyst Rekt Capital warns that Bitcoin faces significant resistance and could face a correction of up to 30% if it fails to break above this level.
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