🔮 Bitcoin Outlook for Q4 2024: Bearish, but Hopeful 📉💡
I’m still having a bullish outlook for Q4, while still holding a bearish bias. My expectation is that we’ll see Bitcoin drop to around $59,600 this weekend, potentially even lower, breaking under the $60K level. This drop is key in determining whether we’ll experience any reversal from there.
Despite this near-term bearish scenario, I still maintain a bullish perspective for the month of October. I expect we might see $BTC a potential reversal around mid to late October (likely the third week), which could set the stage for an uptrend.
However, my bullish outlook will only become solid when Bitcoin breaks above the diagonal resistance around $65K. Until that happens, I’m cautiously observing the market. Even if BTC dips to $48K, it won’t invalidate the overall bullish stance.
A lot depends on the market’s major players, and how this plays out will be interesting to watch. Let’s see how things evolve this quarter. 🚀
