CandleFocus Bitcoin ‘Playing as Predicted’ as Analysts Eye $85K After $71K Retracement
2024-11-07
Author: Content Editor
Bitcoin surged to new all-time highs following former President Donald Trump's electoral victory over Vice President Kamala Harris, reaching over $76,000. This triggered liquidations among over-leveraged short traders, totaling over $500 million. Analyst Ali Martinez has accurately forecasted Bitcoin's price movements in the past and now predicts that it could reach $78,000, pull back to $71,500, and rally to $85,000. However, some indicators suggest a potential cooling off for Bitcoin, including the breaking of the upper Bollinger Band and the emergence of red candlestick formations, indicating potential selling pressure and profit-taking. The Relative Strength Index (RSI) also shows a decline in bullish momentum.
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