CandleFocus Bitcoin Eyes $64,000 as Investors Buy $2 Billion Worth of BTC
2024-09-18
Author: Content Editor
Bitcoin's recent price action suggests it is forming an ascending triangle pattern, which could signal a major rally. The key resistance levels at $61,846 and $64,169 need to be overcome for this breakout to occur. Investors have been accumulating Bitcoin, withdrawing it from exchanges and signaling growing confidence in the market. This accumulation is seen as a bullish indicator for a price rebound. Long-term holders have remained dormant, indicating their belief in a future rally. If Bitcoin successfully breaks out of the triangle pattern and surpasses the resistance levels, it could potentially rise to $81,556. However, if the breakout fails, Bitcoin may consolidate below the key barrier and delay the anticipated rally.
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