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#Bitcoin is still holding support Price has been ranging for the past few months between $60,000 and $71,500. There was also a fakeout till $56,500, but price quickly reclaimed the range and went back to the range high, where it got rejected. The price has already faced four such rejections from the range high but is still holding the upward-sloping trendline support. If the current support holds, we can expect another test of the range high and a possible breakout soon.
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BNB Price Prediction: 2024, 2025, 2030
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Solana Price Prediction: 2024, 2025, 2030
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#Bitcoin - This is the longest consolidation Each cycle, we have noticed a similar pattern where Bitcoin consolidates near the all-time highs before it enters price discovery. Out of all consolidations, the current one is the longest. In 2017, BTC consolidated for 48 days before breakout In 2020, BTC consolidated for 21 days before breakout In 2024, currently BTC is consolidating for the past 87 days and counting. Once price breaks out of this consolidation range, we are going to witness a massive upside rally. $BTC
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What can Gold ETFs tell us about Bitcoin? As @Vivek4real_ mentions, it took Bitcoin 5 months to get 15 Billion in inflows, versus 5 YEARS for Gold. In those 5 years, Gold price doubled, but then they doubled again in the next two years, even without any new flows. Bitcoin has just about doubled in price since the ETF was announced. But it did so off of a market cap 0f 0.7 Trillion, versus 2.6 Trillion for Gold. So we should really expect a MUCH bigger move just off the flows so far. Not 2x, but maybe 4x (just proportional to market cap) It also suggests regardless of flows, we could do another 2x just as a "continuation". In other words: Number is going to go up. A lot. #TopCoinsJune2024 #BTC $BTC
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