• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Bitcoin

Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

n70products by n70products
December 16, 2024
in Bitcoin
0
Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter



Este artículo también está disponible en español.

The Bitcoin worth has continued its foray above the $100,000 threshold and is at the moment buying and selling around new all-time highs. Following its latest surge to an all-time excessive (ATH) above $106,000, the Bitcoin worth has performed out an attention-grabbing sample on the 1-day candlestick timeframe, which factors to an extremely bullish outlook for the main cryptocurrency.

Notably, Grasp Kenobi, a preferred crypto analyst on X, revealed a particularly bullish 88-day sample on the Bitcoin worth chart, drawing parallels to an analogous sample from late 2023.

88-Day Sample Resembles Historic Symmetry On Bitcoin Value Chart

Grasp Kenobi’s analysis begins with the identification of an 88-day construction that bears a putting resemblance to Bitcoin’s price movements in Q4 2023, simply earlier than the present bull market part started. Taking to social media platform X, the analyst famous that the preliminary 37 days of the present sample since November 2024 mimic an analogous hidden distribution part noticed final yr. Moreover, each the value motion and the every day Relative Energy Index (RSI) indicator align intently with the earlier cycle. 

Associated Studying

To visualise this, he linked crucial factors A1 to A2 and B1 to B2 on the relative energy index, which highlighted the symmetrical nature of the formations.

Based on Grasp Kenobi, the symmetry between these sequences means that Bitcoin’s ongoing trajectory might mirror its previous, notably within the subsequent 51 days. Whereas the analyst emphasizes that this statement shouldn’t be a exact prediction, he believes it presents a framework for understanding Bitcoin’s habits based mostly on previous habits and the present construction.

Bitcoin price
Supply: X

Projection Factors To $124,300 By Early 2025

Bitcoin and different cryptocurrencies have been recognized to repeat their earlier worth efficiency every now and then. By analyzing historic worth playouts and present patterns, analysts and merchants are supplied with a context of what to anticipate. Increasing on his evaluation, Grasp Kenobi ventured into speculative territory by sketching a predicted worth path for Bitcoin. 

Associated Studying

The analyst speculated that the following 51-day sequence might comply with an analogous trajectory to the previous 51 days in late 2023, culminating in a worth of $124,300 by January 31, 2025. 

On the time of writing, Bitcoin is buying and selling at $105,000, having not too long ago reached an intraday excessive and all-time excessive of $106,352 prior to now 24 hours, based on CoinGecko. The main cryptocurrency is already up 12% this month, and reaching the projected worth goal of $124,300 would translate to an extra 18% enhance. Whether or not Bitcoin repeats its worth sample in late 2023 stays to be seen, however present worth motion and crypto market sentiment counsel that the Bitcoin worth has a lot of room to run in 2025.

Bitcoin price chart from Tradingview.com
BTC worth trending near new ATH | Supply: BTCUSD on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com



Source link

Tags: 88DayAppearsATHBitcoinBullishChartExtremelyhittingPriceStructure
Previous Post

Discovery Grid moves from OpenSim to O3DE alternative – Hypergrid Business

Next Post

Crypto regulation needs thoughtful rethink under Trump

Next Post
Crypto regulation needs thoughtful rethink under Trump

Crypto regulation needs thoughtful rethink under Trump

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Ethereum Reclaims Local Range Against BTC – Can Bulls Target The Range High?

Ethereum Reclaims Local Range Against BTC – Can Bulls Target The Range High?

April 27, 2025
Saylor signals impending Bitcoin purchase following Q1 earnings call

Saylor signals impending Bitcoin purchase following Q1 earnings call

May 4, 2025
SEC Announces Creation of New Cyber and Emerging Technologies Unit (CETU) To Complement Crypto Task Force

SEC Announces Creation of New Cyber and Emerging Technologies Unit (CETU) To Complement Crypto Task Force

February 20, 2025

Recents

US Authorities Charge Six Individuals in Connection to Alleged $66,000,000 Food Stamp Fraud Scheme

US Authorities Charge Six Individuals in Connection to Alleged $66,000,000 Food Stamp Fraud Scheme

June 1, 2025
XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level

XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level

June 1, 2025
Ethereum Bulls Defend Support – Key Indicator Hints At Short-Term Rally

Ethereum Bulls Defend Support – Key Indicator Hints At Short-Term Rally

May 31, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version