*With BTC Price Surpassing $64K, Is This the Right Time to Buy?*
The positive cycle accounts for an 18% jump in the last 20 days, challenging a crucial resistance level.
Recovering from the 1.73% drop last night, the Bitcoin price has increased 1.89% today from the opening price
The ongoing bull run has surpassed the crucial 50-day and 200-day EMA to avoid a death cross event.
With this, the 50-day and 200-day EMA are back in a positive trend and likely to provide dynamic support. The bull cycle within the channel marks a double-bottom reversal with a V-shaped recovery, surpassing the neckline, and aligning with the 50% Fibonacci level.
Hence, the Bitcoin price breaks a crucial high-supply resistance zone, increasing the bullish trend chances.
The breakout sets the stage for the last quarter of 2024 to be extremely positive.
Over 4 hour timeframe W double bottom pattern has formed near resistance zone, lets see, will it breakout this zone this time or not.
Based on the Q4 results of Bitcoin halving years, 2016 and 2020 had a remarkable bull run to end the year. Hence, with this bullish flag breakout, we can expect the 2024 halving year to end on a strong note.
