CandleFocus Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time
2024-12-11
Author: Content Editor
A crypto analyst has discovered similarities between Bitcoin's Chicago Mercantile Exchange (CME) chart from late 2024 and 2023. The analyst's report shows that the 2024 CME chart replicates the price action of 2023, with similar technical patterns, wave structures, price movements, and key indicators. The charts indicate a significant breakout from consolidation and a potential upward trend continuation. Both charts demonstrate similar Fibonacci extensions, suggesting that Bitcoin could reach new price targets of $105,465 and $124,125 in 2024. Additionally, both charts highlight the presence of CME futures gaps, with the 2024 chart indicating a comparable gap near $124,125. Based on these observations, the analyst predicts that Bitcoin could prepare for a bullish move above $120,000. Although Bitcoin experienced a sharp surge followed by a decline, it is currently trading at $97,638 and may rise back towards its all-time high of $100,000 if it maintains a stable bullish position.
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