The Bitcoin price chart is breaking out of a massive bull flag.
The completed cup and handle formation is pushing BTC price towards previous ATH.
With Bitcoin (BTC) close October with a new ATH?
The crypto market rejoices over the fact that Bitcoin (BTC) price almost reached its previous ATH of $73,700. Earlier today, BTC price went up as far as $73,400 before tracing back to the $72,500 price regions where it is currently attempting to surge once again. This raises expectations for Bitcoin to enter price discovery phase before the end of October.
Will October Close With a New BTC ATH?
If October were to make a bullish close in a new ATH, this would be an exciting signal for what many hoped to see in a highly bullish Q4. With October seeing new highs, the rest of Q4 is likely to be highly bullish. Even if this were not the case and a new ATH is set in November, the bullish sentiment for much higher highs in Q4 is still highly possible.
So far, the cycle top and Q4 top price prediction for Bitcoin (BTC) lies between $100,000 to $150,000. Furthermore, the cycle top top prediction lies between $220,000 to $550,000. Most recently, analysts expect BTC to set a trending top price between $116,000 to $126,000. Yet, for the moment, most analysts are hoping to see Bitcoin break past its previous ATH and set ahigh between $88,000 and $90,000.
Bitcoin’s Massive Bull Breakout
https://twitter.com/DrProfitCrypto/status/1851234220217110776
Besides the fact that BTC is gearing to set a new ATH in the crypto market, one reputed and renowned crypto and Bitcoin analyst, Doctor Profit, notices the reason behind the ongoing breakout. As we can see from the post above, this silver-tongued analyst known for his accurate prediction sees that BTC is breaking out of a massive bull flag on the weekly chart.
In detail, he states that Bitcoin (BTC) price is about to spike and this is caused by a breakout from a completed bullish cup and handle formation. A breakout from here should propel the price of BTC into new ATH regions. While it is unsure how high this breakout will take Bitcoin, it is certain that new ATHs are on the horizon.
The post Bitcoin Breaks Out of a Massive Bull Flag as BTC Price Aims for Previous ATH, Will October Close in a New BTC ATH? appeared first on Crypto News Land.
