CandleFocus Bitcoin Price Analysis: BTC Soars to $65K, This is the Next Target
2024-10-14
Author: Content Editor
Bitcoin's price has shown signs of bullish continuation, with the daily candle breaking through the 200-day moving average and the $64K resistance level. If the candle closes above these levels, there is optimism that the market could rally towards the $68K level in the short term. The 4-hour timeframe also indicates a bullish market structure, with the price breaking out of a bullish flag pattern. The futures market sentiment also shows increased optimism, with funding rates spiking significantly. However, investors should remain cautious as a sudden surge in funding rates could lead to a long liquidation cascade that could halt the market's rally.
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