Bitcoin

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surges-past-70000-could-rise-further" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Past $70,000, Could Rise Further</a><br></p>
<p style="text-align: justify">Renowned trader Peter Brandt suggests that <a href="https://en.bitcoinhaber.net/warning-of-a-potential-38000-bitcoin-plunge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ($<a href="https://en.bitcoinhaber.net/bitcoin-exchange-traded-funds-experience-robust-inflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) may have entered a highly dynamic phase in its market cycle following its recent rise above $70,000 on Tuesday. This increase has sparked renewed interest and optimism among traders and enthusiasts.</p>
<h2 id="what-does-market-analysis-indicate">What Does Market Analysis Indicate?</h2>
<p style="text-align: justify">Brandt shared his insights on X, highlighting that Bitcoin has broken free from a downward trend characterized by lower highs and lower lows on the weekly chart. He further noted the completion of an inverse expanding triangle pattern.</p>
<blockquote>
 <p>“The five-month inverse expanding triangle has completed. Continuity will be crucial. The rise may have begun post-halving.”</p>
</blockquote>
<h2 id="could-bitcoin-reach-new-heights">Could Bitcoin Reach New Heights?</h2>
<p style="text-align: justify">According to Brandt, Bitcoin might be on the brink of a parabolic phase aligned with the upcoming halving event, which reduces miners’ block rewards. He sees this as a potential turning point for Bitcoin’s value trajectory.</p>
<p style="text-align: justify">Brandt forecasts a possible 29% increase for Bitcoin, aiming for a peak around $94,000. He notes that alternative models hint at the potential for Bitcoin to reach six figures, estimating that the bull market cycle could peak between $130,000 and $150,000.</p>
<ul>
 <li>Current Bitcoin trading at around $72,000 with a slight decline of 1.6% in the last day.</li>
 <li>The critical support level appears to be $71,500.</li>
 <li>Market activity could intensify post-halving, following Brandt’s predictions.</li>
</ul>
<p style="text-align: justify">Brandt’s analysis highlights the potential for considerable gains in Bitcoin’s market, suggesting that traders should stay alert to the possibilities of volatility in the near term.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-surges-past-70000-could-rise-further" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Past $70,000, Could Rise Further</a></h5>

Bitcoin Surges Past $70,000, Could Rise Further

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