The Potential for a Massive Bitcoin Breakout 🚀
A trader renowned for making accurate predictions in the cryptocurrency market is suggesting that Bitcoin (BTC) could be on the verge of a significant breakout. Pseudonymous analyst Dave the Wave shared with his 146,500 followers on the social media platform X his insights into a potential bullish pattern that Bitcoin may be following, indicating a possible 50% gain.
- Dave the Wave highlights a bullish megaphone pattern in Bitcoin’s daily chart
- Two higher highs and two lower lows could lead to a price surge to $109,500
- The 0.382 Fibonacci retracement levels are forming a trendline supporting the price
- Bitcoin currently trades at $69,429, showing a slight decline in the last 24 hours
Altcoin Markets Surge 📈
In addition to analyzing Bitcoin’s potential breakout, Dave the Wave is also monitoring the TOTAL2 chart, which tracks the market capitalization of cryptocurrencies excluding Bitcoin and stablecoins. The analyst had predicted a breakout in June, but recent movements suggest an accelerated timeline for this development.
- The TOTAL2 chart is currently valued at $1.145 trillion, surpassing resistances identified by Dave the Wave
Generated Image: DALLE3
Hot Take: A Bullish Momentum for Bitcoin 🌟
A potential bullish setup in Bitcoin, as highlighted by an experienced trader, has the cryptocurrency community buzzing with anticipation. With key indicators pointing towards a significant price surge, the market awaits eagerly to witness if Bitcoin will indeed break out as predicted. Stay tuned for further updates on this developing situation.
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