CandleFocus Bitcoin price must clear this level before a ‘solid run up to $100,000’
2024-09-28
Author: Content Editor
Bitcoin is on track to reach $100,000, according to trading expert Peter DiCarlo. He believes that for Bitcoin to reach this milestone, it needs to surpass the $68,000 resistance level. DiCarlo notes that Bitcoin is currently in a bull flag formation, indicating bullish momentum. He also highlights the bullish accumulation zone below $68,000, suggesting institutional investors are accumulating Bitcoin. Additionally, there is a strong accumulation zone around $52,000. However, Bitcoin still faces barriers and needs to clear retail's long positions before rallying in October. There is also a possibility of price correction based on Bitcoin's TD Sequential indicator. As of now, Bitcoin is trading at $65,665.
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