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    Home ยป Bitcoin Breaking Bearish Trend Top Analyst Predicts Over 15 Surge
    Bitcoin

    Bitcoin Breaking Bearish Trend Top Analyst Predicts Over 15 Surge

    By adminJul. 3, 2024No Comments2 Mins Read
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    Bitcoin Breaking Bearish Trend  Top Analyst Predicts Over 15 Surge
    Bitcoin Breaking Bearish Trend Top Analyst Predicts Over 15 Surge
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    According to cryptocurrency trader Rekt Capital, Bitcoin (BTC) has broken its downtrend since June and is back on an upward trajectory.

    The focus now is on establishing a strong price base that could potentially push BTC towards $71,500 over time.

    #BTC
    Strong start to July as Bitcoin continues to develop its cluster of price action at the Range Low area (green)

    Target?
    To build a foundation from which it will be able to springboard to the Range High area at ~$71500 over time
    $ BTC
    #Crypto
    #Bitcoin
    https://t.co/A2VKixFFp2
    pic.twitter.com/40FEmVTscz
    – Rekt Capital (@rektcapital)
    July 1, 2024

    Rekt Capital highlighted that Bitcoin has formed a new higher weekly low, signaling the end of the downtrend. On a broader scale, Bitcoin is developing a macro bull flag pattern, indicating positive long-term prospects.

    Additionally, Bitcoin is consolidating within an accumulation range, often observed post-halving events. This pattern indicates bullish movement as Bitcoin aligns with traditional halving cycles.

    Read more:


    How Bitcoin Became an Environmental Savior

    Following the quarter-end, Bitcoin successfully tested and turned a significant previous resistance near the $61,000 level into new support. Moreover, spot Bitcoin ETFs recorded a net inflow of over $129 million on July 1, marking the largest inflow in three weeks.

    Bloomberg analyst Eric Balchunas noted positive net flows into Bitcoin ETFs across daily, weekly, and monthly periods, reflecting increasing investor interest.

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