bullish

Bitcoin

Dogecoin

Captain

Read

<p><a href="https://captainaltcoin.com/why-is-the-crypto-market-up-bitcoin-btc-price-tests-71k/" target="_blank" rel="noopener noreferrer nofollow">The Bitcoin market</a> has had a decisive move, according to Captain Faibik, a top crypto analyst. Following a long consolidation period within a descending broadening wedge pattern, Bitcoin broke past a key resistance level, indicating a shift in market sentiment.&nbsp;</p>
<p>Bitcoin has the ability to hit new records, according to Faibik’s analysis. Furthermore, with a mid-term objective of $100,000, the analyst has set an immediate price target around $88,000 and $90,000.</p>
<h2 class="wp-block-heading" id="strong-btc-breakout-confirms-uptrend-strong"><strong>BTC Breakout Confirms Uptrend</strong></h2>
<p>The price of Bitcoin shifted for almost eight months within a bullish reversal pattern called a descending expanding wedge, which is used to indicate changes in trends. Bitcoin found it difficult to break through the upper resistance line as it moved within this expanding pattern.&nbsp;</p>
<p>Faibik’s tweet confirms that this barrier has now been broken, reinforcing a change from consolidation to an upward trajectory. The breakout came with a solid upward candlestick formation, pushing BTC above the wedge’s resistance at around $70,000, which had limited previous advances.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Bulls are back in the town..<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Descending Broadening Wedge Upside Breakout is finally Confirmed after 8-months of Consolidation.<br><br>It seems the Path is clear, and Bitcoin appears to be on the verge of Reaching a new All-time High.<br><br>As I’ve been mentioning for some time, if… <a href="https://t.co/CwRNYxOg93" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/CwRNYxOg93</a></p>— Captain Faibik <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f43a.png" alt="🐺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1851496236689273263?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>This breakout marks the end of Bitcoin’s prolonged consolidation phase, offering traders a renewed bullish perspective. Following this breakout, Bitcoin’s price has climbed to approximately $72,419, maintaining strong momentum with higher lows and higher highs—key signals of <a href="https://www.forbes.com/sites/dereksaul/2024/10/29/bitcoin-tops-71000-a-5-month-high-as-election-inflation-questions-swirl/" target="_blank" rel="noopener noreferrer nofollow">building bullish sentiment</a>.</p>
<h2 class="wp-block-heading" id="strong-key-btc-price-levels-to-watch-strong"><strong>Key BTC Price Levels to Watch</strong></h2>
<p>Captain Faibik’s analysis identifies $70,000 as a crucial support level, now that BTC has confirmed a move above this mark. Should Bitcoin sustain this level, it would affirm bullish momentum in the short term. The next resistance zone, projected between $88,000 and $90,000, aligns with Faibik’s immediate target by late November to early December.&nbsp;</p>
<p>Bitcoin’s progress through this resistance area may indicate further upside potential. For now, the $70,000 support level is vital to maintaining this momentum.&nbsp;</p>
<p>Should <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> face any corrections, holding this support would reinforce the likelihood of reaching the $88,000–$90,000 range before the year’s end.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/can-kaspa-kas-still-reach-10-this-bull-run/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Can Kaspa (KAS) Still Reach $10 This Bull Run?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-technical-indicators-reflect-momentum-shift-strong"><strong>Technical Indicators Reflect Momentum Shift</strong></h2>
<p>Captain Faibik’s chart shows the breakout from an extended pattern reflecting a positive shift in Bitcoin’s market structure. Generally, breakouts from such formations indicate a strong directional move, potentially paving the way for BTC to test new highs.&nbsp;</p>
<p>Although Faibik has set a midterm target of $100,000, he notes that reaching this level will depend on sustained bullish momentum and clearing the interim resistance near $88,000.</p>
<p>The confirmation of the broadening wedge breakout is a key development, as it validates Faibik’s projection for a possible upward trajectory for Bitcoin.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/where-is-the-bitcoin-price-headed-next-btc-bulls-shatter-8-month-pattern/" rel="noopener noreferrer nofollow">Where is the Bitcoin Price Headed Next? BTC Bulls Shatter 8-Month Pattern</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Where is the Bitcoin Price Headed Next? BTC Bulls Shatter 8-Month Pattern

Table of Contents

CaptainAltcoin

Other articles published on Oct 30, 2024

MicroStrategy Currently at $8.4B in Unrealized Profits from Bitcoin Investments

Rollblock GambleFi Leaps Ahead as DOGE and SUI Navigate Market Turbulence

MAD Grows 25% As It Plans To Achieve A Pokemon Like Cult Status Through Its App

Paxos CEO Advocates U.S Blockchain Recognition to Remain Competitive

GoldenCat Teams Up with Gate in an Exciting Vote Campaign: Let's Aim for the Top!

Harris vs. Trump: Who is the crypto industry backing?

Join our free newsletter for daily crypto updates!