CandleFocus Bitcoin forms a golden cross, analysts predict parabolic moves ahead
2024-10-16
Author: Content Editor
Bitcoin price has been on a strong rebound, reaching its highest level since July 29 and jumping almost 40% from its lowest point in August. There are indications that Bitcoin will continue to climb, with the fear and greed index moving from greed to 58, suggesting a positive market sentiment. The formation of a golden cross pattern and an inverse head and shoulders pattern also indicate bullish trends. Additionally, rising odds of Donald Trump winning the election and his favorable stance towards the crypto industry are seen as factors contributing to Bitcoin's rally. Analysts predict further upside for Bitcoin, with price targets ranging from $73,800 to a new record high.
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