CandleFocus Bitcoin Price Analysis: The 2 Most Probable Scenarios For BTC in the Short Term
2024-10-12
Author: Content Editor
Bitcoin has been stuck in a consolidation phase between $55,000 and $71,000 since March 2024, with no clear trend emerging. The price is currently squeezed between the 100-day and 200-day moving averages, indicating an impending breakout that will determine its short-term direction. There is an ascending wedge pattern on the 4-hour chart, suggesting a continuation of the bearish trend if it breaks downward. The realized price UTXO age bands show that Bitcoin's price is hovering between the realized prices of short-term and long-term holders, with a breakthrough above the short-term holders' realized price potentially indicating upward momentum. However, failure to break above this zone may lead to bearish retracements.
Related News
Best Shitcoins to Buy in October 2024: Capitalizing Market Trends $SEI Token Set to Rise? Double Bottom Indicates Huge Breakout The Best Crypto Charting Software to Enhance Your Trading Strategy in 2024 SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next? EGLD Crypto Gears Up For Breakout, Key Hurdles Persist Scroll Defends Binance Alliance Amid Community CEX 'Kneeling' Criticism Next 1000x Crypto in 2024: Investment with BNB, ETH, And Others Crypto Market Today: Bitcoin and Ethereum Dominate Amid High Liquidations Altcoin Whale Profits $14M on $SPX Trade After Major Selloff Michael Saylor Bitcoin strategy is a ‘betrayal’ of core crypto principles: Craig Wright Solana Whale Makes $180K in 12 Hours with Magnet Token ENA Price Shoots 25% As Ethena Pitches Direct Competition to Tether Whales Extracts 322.87B $PEPE from Binance, Sparking Speculation Bitcoin’s global search interest dips to 31 in October 2024 Bitcoin Layer 2 Sees Major Growth in September, Reveals Footprint Analytics Report SEC Commissioner Admits Mistakes in Cryptocurrency Rules Charles Hoskinson Slams Craig Wright’s Lawsuit as Abuse of Legal System Peter Todd named Satoshi on HBO, Mt. Gox repayment plan deadline postponed, and more: Hodler’s Digest, Oct. 6 – 12 Former President Trump leads Harris by 10 points — Polymarket Anticipated China Meeting Held – Here are the Details of the Meeting 'Black Swan' Author Names AI 'Probably Best Investment' of Near Future BNB DApp volumes down 25% in a week — Will BNB price follow? Arbitrum DAO member proposes $120 million recall from gaming fund that missed deadlines What Is ‘Off the Grid’? The Buzzy Battle Royale Shooter Built on Avalanche Bitcoin Takes Another Shot at $63.5K as China's Vague Fiscal Stimulus Deters Capital Shift Grayscale expands asset considerations with 36 new cryptocurrencies including Dogecoin Here’s How High XRP Can Reach After ETF Approval if XRP Gets 50% of BTC ETF Inflows Investor Nets 30x Profit on $NEIRO, but Misses Out on $17.5M Windfall Bitcoin Price Analysis: The 2 Most Probable Scenarios For BTC in the Short Term Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains Realize profits: Millionaire sales take over the market as price surges Hamster Kombat denies its relationship with Gotbit Ripple Price Analysis: Is XRP Headed to $0.5 or $0.6 Next? Cortex Unveils Key Updates on MIPS Compilation and ZkRollup Enhancements YouTuber MrBeast earned over $10m promoting low-cap tokens, on-chain crypto investigator says Top Altcoin Searches on CryptoRank: $DOGS and $NAVX Leading The Pack DOGE Price Prediction for October 12 Confirmed Airdrops Telegram Games Mini Apps October 2024 UPDATED Analysis Company Writes Bullish and Bearish Scenario for Bitcoin: Gives Price Target for Both BitBoy Secret Metric Reveals 7 Altcoins You Cannot Miss Right Now Memecoin Whale Withdraws $2.49M in $SHIB and $PEPE from Binance BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' Trader Accumulates Significant $NEIRO Position, Predicts It Could Be the Next $PEPE GameFi's next boom: How TON-based games and crypto airdrops are attracting millions of users Weekly Cryptocurrency Market Analysis: Altcoins Fall To Critical Support Levels Bitcoin price gears up for major rally with two key peaks on the horizon Someone just paid $1.4 million for a golden BAYC NFT – Here's why 3.78 Trillion SHIB in 24 Hours: Shiba Inu Price Skyrockets 7% Mysten Labs CEO Evan Cheng says Sui's gaming device is a 'software play' TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX? Former FTX executive Ryan Salame begins his seven and a half year prison sentence British man sues council for $647M over lost Bitcoin in landfill Toncoin (TON) Price Prediction for October 12 SHIB Burn Rate Spikes 1,436% as Price Picks Up Momentum Bitcoin Price Predictions for End of 2024 and the Forecasted Outlook for 2025 EigenLayer Failed to Complete its Promises: Researcher Tokenized US Treasuries Climb by $210M Since Crossing the $2 Billion Mark Privacy coins under fire: Can lawmakers regulate untraceable transactions? Bitcoin Gains Ground And Breaks Through The $60,000 Level Popcat (SOL) Hits New All-Time High as Bulls Gain Strength 4 Reasons to Stay Bullish on Cardano Are Bulls Ready to Drive Ethereum (ETH) to $2,500? Saving Ethereum from itself: Experts weigh in on Vitalik Buterin’s ‘alignment’ plan TAO Price Surges And Aims For The $700 Mark As Bulls Take Control Top Crypto Projects Still in Accumulation Zone: $ONDO, $W, and $FTT Lead the Pack Is $1 SHIB Price Possible in the Next 90 Days? Ethereum's Vitalik Buterin Indicates New Ways to Solve L1/L2 Fees Issues Top Ethereum Rival Solana Primed for a Breakout, According to Real Vision Analyst Jamie Coutts – Here’s Why Here’s Shiba Inu Price and Market Cap if SHIB is Able to Rise 1,000%, 5,000% and 10,000% Leading DAO Projects of 2024 Based on Social Media Engagement Whale Amasses 83,359,233,965 Shiba Inu Amid Market Rebound NFT auction market cools significantly: is there a silver lining for investors? Aptos Launches VibrantX: The New Hub for DeFi Portfolios Weekend Listing from OKX – They Listed Surprise Altcoin Bullish on ETH: Eight Theses Shared by DeFi Enthusiast Meme Coins Back on the Bullish Train: Altcoins Take a Step Back USDC Launches on Sui Mainnet, Unlocking New Liquidity for DeFi Growth 'Rich Dad Poor Dad' Author Gives Non-Bitcoiners One Last Counsel Legendary Trader Peter Brandt Weighs In on MicroStrategy's BTC-Fueled Rally Analyst Bets on Cardano to Hit $0.5 Within This Timeline Ripple Expands as Taiwan Prepares Crypto Custody Trials in 2025 Scroll lists on Binance, sparking debate over centralization concerns If WIF Repeats SHIB's 2021 Move, Can dogwifhat Price Hit $10 NEIRO Price Soars 40% Hitting ATH: Is This the Start of a Bull Run? Bitcoin: the index that can anticipate the price movements of BTC Ripple’s Legal Chief Raises Constitutional Alarm Over SEC’s Latest XRP Classification Navigating the AI compute craze as a retail investor in the web3 era | Opinion Solana Prepares For A 20% Rally – Can SOL Reclaim $176? Why Are Bitcoin and Altcoin Prices Lethargic? Experts Share Reasons and Expectations Alchemy Pay Enhances Crypto Purchases with EU Open Banking Integration Arkham Intelligence Reveals Crypto Millionaire’s Portfolio: ETH, OP, COMP Financial Analyst Explains How Owning 15,365 XRP Could Change Your Financial Future Forever Hidden gems on Tezos: the best crypto tools among NFT and nodes Argentina Leads the Way in Football Player Tokenization Shiba Inu Braces for 342% Spike to $0.00008 After Falling Wedge Breakout Bitcoin’s Big October Rally Could Come Only If Its Price Stays Above This Level, Analysts Says Bitcoin Price Rockets to $63K but This Viral Meme Coin Takes Center Stage (Weekend Watch) Trader Sees Bullish Reversal Pattern for BTC, Outlines Level Where ‘Things’ Could ‘Get a Little Bit Treacherous’ Shytoshi Kusama Intrigues With “Back to The Future” Shiba Inu Teaser X Empire (XEMP) Daily Combo Codes, Riddle & Rebus For Today October 11 AVAX Price Surges Amid Token Repurchase Plan by the Avalanche Foundation Cardano to Step Up Ethereum Rivalry With Layer-2 Solution Binance Founder Changpeng 'CZ' Zhao Issues Major AI Warning To Community Blockchain Expert: Clearer Regulations Can Boost AI and Web3 Adoption Solana Price Rebound Aims for 25% Surge as TVL Heads Toward $6 Billion Crypto Firms Eye Top Football League Sponsorships as Gambling Platforms Get Ousted Bitcoin Bounces 7% Above $63K as Crypto Traders Eye China Stimulus Statement ETC Group advises holding Ethereum, Solana, and Aptos through market shifts Bitcoin Reclaims $62k: Analysts Explain Why The Bull Cycle Is Far From Over 5 Top Reasons To Buy Bitcoin (BTC) In 'Uptober' Here are 5 Different Timelines for Shiba Inu to Surge 437% to $0.0001 and 5,276% to $0.001 Bitcoin ETFs end three-day skid with $254M inflow Bitcoin Price Movements Resemble Past Bull Cycles, Analysts Eye 2025 Surge BitBoy on XRP: In 5 Years You’d Wish You Bought More XRP Neiro Up 55% in 24 Hours: Is the Market Shifting Toward Memecoins? Ethereum price prediction 2024-2030: Will ETH reach $5,000 soon? Celestia (TIA) Leads Crypto Market With 16% Surge, Will It Hit $7 This Month? Weekly Summary: 26 Degrees Surrenders CySEC License, FTX Bankruptcy Plan, and More BlackRock sold BTC and bought ETH; what does this mean for the markets? Uniswap Dominates Polygon DApp Space with Over $500 Million in Weekly Volume Alleged crypto fraudster on the run after tampering ankle bracelet Bitcoin’s Next Move? Veteran Trader Predicts Possible 75% Crash—Here’s Why ETC Group advises holding Ethereum, Solana, and Aptos through market shifts $49,999,999,697 Abruptly Exits Chase Bank Account in Massive Withdrawal After Customer Has ‘Crazy Night Out’: Report Shiba Inu (SHIB) Explosion Incoming? 3 Dogecoin (DOGE) Price Levels to Watch Ahead of Reversal, XRP Recovery Attempt Started Over 52 Million ETH Bought At $2,300, Will Ethereum Bulls Defend This Support? New Zealand’s Crypto Hotspots: The Top 5 Exchanges That Stand Out Worldcoin (WLD) Skyrockets 17% Amid World Chain, Dune Linkup