‘All Eyes on BTC’ – Trader Sees Bitcoin Mirroring October 2023 Run-Up After 200 Days of Accumulation

A carefully watched crypto strategist believes that Bitcoin will generate extra bullish momentum if BTC manages to convincingly reclaim a key value space.

Pseudonymous analyst Inmortal tells his 216,500 followers on social media platform

Based on the dealer, BTC will witness extra rallies if it holds the worth degree. noticing that Bitcoin opened the month of October at round $63,000.

“Uptober resumes above $63,000

BTC.”

Yesterday, Bitcoin rose to a 24-hour excessive of $64,458. The highest crypto by market cap has since corrected and is buying and selling at $62,485 on the time of writing.

Zooming out, Inmortal sees the opportunity of Bitcoin following within the footsteps of the October 2023 value motion. The dealer shares a chart that means Bitcoin is on the verge of a serious breakout after greater than six months of sideways motion.

“October 2023 versus 2024.

Each have been preceded by 200 days of accumulation.

BTC.”

Wanting on the dealer’s chart, he appears to recommend that Bitcoin is at present within the closing levels of its consolidation earlier than a breakout happens, much like what occurred final 12 months when BTC was buying and selling close to $20,000.

Based on Inmortal, Bitcoin will do the identical to confirm the sample if it efficiently strikes above a resistance zone.

“Breakthrough above $64,000 = new all-time excessive.

BTC.”

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Generated picture: Midjourney