Bitcoin first needs a weekly close above the $71,300 mark to confirm a price breakout to new all-time highs.
Bitcoin first needs a weekly close above the $71,300 mark to confirm a likely price breakout to new all-time highs.) price could be headed to the $85,000 mark, but the world’s first cryptocurrency needs a weekly close above $71,300 to confirm more upward momentum.BTC/USD, Wyckoff pattern. Source: Mikybull, a technical analysis pioneer in the first half of the 20th century who broke down the market cycle into four distinct phases.
“We’re still in an accelerated cycle. Instead of 260 days ahead of schedule, we’re ahead 170 days, but this could rapidly change if we get a weekly candle close above this range high resistance which is essentially a monthly flag.”However, Bitcoin’s price may need to cool down based on a key technical indicator seen on the four-hour chart.
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