bullish

Donald Trump

Parabolic

Bitcoin

<ul class="wp-block-list">
 <li>Bitcoin surged past $68,000, signaling a bullish breakout and potential price increase.</li>  
 <li>An Ichimoku golden cross and rising fear and greed index indicate strong market momentum.</li>  
 <li>External factors, like Trump's election odds, fuel investor interest in Bitcoin as an inflation hedge.</li> 
</ul>  
<p>Recently, <a href="https://cryptonewsland.com/next-bitcoin-btc-bullish-historical-moves/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> surged past a key psychological price level at $68,000. This breakout coincides with the formation of an Ichimoku golden cross, another strong bullish signal. After jumping nearly 40% since August's lows, Bitcoin appears ready for an explosive price increase. Market sentiment and technical indicators suggest a substantial upward trajectory lies ahead.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/Washigorira/status/1847223789240676432
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</figure>  
<h2 class="wp-block-heading" id="h-technical-signals-point-to-a-bullish-future">Technical Signals Point to a Bullish Future</h2>  
<p><a href="https://www.binance.com/en/square/fear-and-greed-index" rel="noopener noreferrer nofollow">Bitcoin’s fear and greed index</a> recently shifted from 37 to 58. A rising fear and greed index often hints at an impending market rally. Additionally, Bitcoin’s price action has created a golden cross pattern. The positive crossover of the 50-day and 200-day Weighted Moving Averages (WMA) indicates bullish momentum.</p>  
<p>Historically, this crossover has led to impressive gains. For instance, on October 23 last year, Bitcoin skyrocketed by 120%, hitting $73,800 in March. The WMA offers a clearer trend by placing more weight on recent prices than older ones. This sensitivity helps traders identify potential trends.</p>  
<p>Furthermore, an inverse head and shoulders pattern has formed, suggesting even more <a href="https://cryptonewsland.com/bitcoin-bullish-momentum-points-to-90000/" rel="noopener noreferrer nofollow">bullish potential</a>. Flipping the crucial resistance level of $66,561—the highest swing since September 27—adds to the optimism. Crossing the descending trendline connecting the highest swings since March only strengthens this outlook.</p>  
<h2 class="wp-block-heading" id="h-external-factors-fueling-btc-s-surge">External Factors Fueling BTC's Surge</h2>  
<p>Bitcoin’s current rally stems from two key factors. First, increasing odds of Donald Trump winning the upcoming election play a significant role. Polymarket currently gives Trump a 60% probability of success.</p>  
<p>His strong endorsement of the crypto industry makes him appealing to investors. According to a reliable source, Trump holds over $6 million in crypto and has launched a new project called <a href="https://www.worldlibertyfinancial.com/" rel="noopener noreferrer nofollow">World Liberty Financial</a>.</p>  
<p>Second, growing concerns about U.S. public debt drive interest in Bitcoin. With debt surpassing $35.5 trillion, investors seek alternatives to the dollar. Trump’s proposed policies could lead to a staggering $7.5 trillion deficit in the next decade. Bitcoin's capped supply of 21 million coins positions this asset as a valuable hedge against inflation.</p>  
<p>Odds of Bitcoin reaching a record high now sit at 70%. As momentum builds, traders and investors watch Bitcoin’s next moves closely. For now, BTC's breakout on the weekly chart as Ichimoku golden cross forms hint at a Parabolic move ahead.</p>   
<p>The post <a href="https://cryptonewsland.com/btc-breaks-out-on-the-weekly-chart/" rel="noopener noreferrer nofollow">BTC Breaks Out on the Weekly Chart as Ichimoku Golden Cross Forms: A Parabolic Move Ahead?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

BTC Breaks Out on the Weekly Chart as Ichimoku Golden Cross Forms: A Parabolic Move Ahead?

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