CandleFocus Bitcoin Bullish Setup Aims for $110K, but Must Hold Above This Key Level for Confirmation
2024-10-29
Author: Content Editor
Bitcoin has climbed above $71,000, its highest level since June, leading analysts to predict further gains. Egrag Crypto identifies a bullish breakout pattern, projecting a price range of $102,000 to $110,000. Another analyst, Peter Brandt, sees a triangle breakout that could push Bitcoin to $94,000, $160,000, and $230,000. Institutional interest in Bitcoin is also growing, with significant inflows observed in custodial wallets. The CEO of CryptoQuant notes that institutional demand is twice that of retail, suggesting large entities are positioning themselves for long-term gains.
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