CandleFocus Investor Dan Tapiero Says Bitcoin Primed To ‘Launch’ if BTC Breaks One Major Resistance Level
2024-10-07
Author: Content Editor
Investor Dan Tapiero believes that Bitcoin is preparing for a breakout as it forms a large cup and handle structure, with potential to breach the previous highs at $74,000. Tapiero acknowledges that Bitcoin may go through a period of sideways consolidation before experiencing a convincing breakout. He also highlights the importance of yield in driving the next bull market and expects crypto staking to play a significant role. Tapiero views China's decision to stimulate its economy through liquidity measures as a positive catalyst for Bitcoin. At the time of writing, Bitcoin is trading at $63,648, showing a 3% increase in the past day.
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