According to a prominent Bitcoin analyst known as World Of Charts (@WorldOfCharts1), the world’s largest cryptocurrency is poised for a significant rally, potentially reaching new all-time highs. In a recent tweet, the analyst shared a technical analysis chart that highlights the remaining obstacles Bitcoin (BTC) needs to overcome before reaching unprecedented price levels.
Breaking the Falling Wedge Pattern
World Of Charts revealed that Bitcoin has recently broken out of a falling wedge pattern, a bullish technical formation that often signals a trend reversal. The analyst suggests that if Bitcoin successfully retests the broken wedge resistance, it could pave the way for a move towards the $67,000 to $68,000 range.
Also Read: Akash Network (AKT) Price Analysis: Is $5.4 the Next Target for This AI Crypto? Key Indicators and Levels to Watch
Crucial Resistance at Descending Trendline
However, the journey to new all-time highs is not without its challenges. According to the analyst, once Bitcoin reaches the $67,000 to $68,000 area, it will face another crucial resistance level in the form of a descending trendline. This trendline has acted as a significant barrier, preventing Bitcoin from breaking out to higher price levels in the past.
If Bitcoin manages to clear the descending trendline successfully, World Of Charts believes that the path to a new all-time high would be wide open. The analyst’s analysis suggests that overcoming these two remaining resistance levels could potentially unleash a bullish momentum that propels Bitcoin to unprecedented price heights.
New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less –
Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Top Bitcoin Analyst Outlines Clear Path for BTC to Reach New All-Time High: Only Two Resistances Remain appeared first on CaptainAltcoin.
