Richard

bullish

Bitcoin

when

Epic

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Former Goldman Sachs top manager and renowned cryptocurrency advocate&nbsp;<a href="https://x.com/RaoulGMI/status/1841282471054221544?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1841282471054221544%7Ctwgr%5Ed4388e30757f47758203efbfcdc193a3fb95d2f5%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Furl%3Dhttps%3A%2F%2Ftwitter.com%2FRaoulGMI%2Fstatus%2F1841282471054221544" rel="noopener noreferrer nofollow">Raoul Pal</a> has brought an epic new&nbsp;<a href="https://u.today/is-massive-gold-pump-reason-for-bitcoin-btc-drop" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> price prediction into the spotlight, expressing his agreement with the arguments presented. The analysis that caught Pal's attention uses the Wyckoff Accumulation Method, a trading strategy developed by Richard D. Wyckoff that identifies market cycles and institutional behavior.&nbsp;
It focuses on the accumulation phase, in which institutions buy assets at lower prices in anticipation of potential upward price movements. Key elements include increased volume, bullish price action with higher lows and highs, and tests that confirm minimal selling pressure.
According to this prediction, the&nbsp;<a href="https://u.today/ancient-bitcoin-wallet-suddenly-activated-as-btc-recovers-after-big-drop" rel="noopener noreferrer nofollow">price of Bitcoin</a> is currently in Phase D, where demand consistently exceeds supply. The latest episode was Bitcoin reaching the last points of supply (LPS) yesterday, where the price was pulled back after dropping almost 4% over the course of the day.&nbsp;
<blockquote>
 This feels right to me— Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1841282471054221544?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 2, 2024</a>
</blockquote>
Now, the price is expected to reach at least the top of the trading range during this phase, but according to the price forecast, this top will be broken and the next for&nbsp;<a href="https://u.today/50-bitcoin-440-ltc-6-million-doge-i-sold-it-all-in-one-clip-reveals-dogecoin-creator" rel="noopener noreferrer nofollow">Bitcoin</a> is Phase E.&nbsp;
This is when the major cryptocurrency may finally break its all-time high and go into price discovery to $85,000 per BTC and beyond, as can be seen on the attached chart. The expected date for Phase E is early November, when U.S. elections kick off.&nbsp;
For Raoul Pal, this is what "feels right." Whether this will happen is hard to say, as nothing is set in stone in this market.

'This Feels Right to Me': Raoul Pal Approves This Epic Bitcoin Price Prediction

U_Today

Other articles published on Oct 2, 2024

China Urged to Rethink Crypto Ban as U.S. Embraces Bitcoin ETFs—Is China Falling Behind?

SHIB Lead Kusama Endorses Key Upcoming Shiba Inu Event, SHIB Holders Excited

WallitIQ (WLTQ) Ushers In A New Era Of Innovation Complete With Exclusive Presale Whitelist

Here Are The Best Crypto Picks To Not Miss Out On Major Market Pumps

VC Roundup: Borderless eyes token buyback, commodity hardware models for DePIN funding

SUI, NEAR, LTC, DOT Prices Fall: Is This a Buying Opportunity?

Join our free newsletter for daily crypto updates!