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Заголовок Is Bitcoin (BTC) On Track For A 100-Day Rally? Analyst Unveils Cycle Forecast
Дата 20240928

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Is Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) On Track For A 100-Day Rally? Analyst Unveils Cycle Forecast

Is Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) On Track For A 100-Day Rally? Analyst Unveils Cycle Forecast

by Sebastian Villafuerte

2 mins ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has experienced a bullish week, surging 6% since Wednesday, igniting
excitement among analysts and investors who believe this could be the
beginning
of the next major rally.

The last significant rally, from January to March, propelled Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s
price up by 91%, nearing all-time highs. Now, market participants are
optimistic that a similar trend could unfold in the coming weeks, potentially
driving the price to unprecedented levels.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Investors Net $456 Million In Daily Profits As BTC
Prepares For Major Rally

CryptoQuant on-chain analyst Axel Adler has shared insightful data, suggesting
that BTC s current momentum is more than just a temporary boost.
According to Adler, key on-chain metrics point to a strong accumulation phase,
which historically precedes significant price appreciation.

With this renewed bullish sentiment, the market is closely watching how BTC
performs in the coming days. If the price can sustain its upward trajectory
and break through key resistance levels, it could mark the start of a new,
powerful rally. Investors are eager to see whether BTC can replicate its past
performance and reach new heights.

Analyst Expects ‘Longer’ Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Rally

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has experienced a remarkable 25% price surge over the past three
weeks, fueled by the Federal Reserve’s recent interest rate cuts. This
significant price movement has reignited optimism among analysts and traders,
many of whom are predicting a new Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rally. The daily price action
currently supports this outlook, confirming an uptrend as Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin continues to
climb.

Prominent crypto analyst Axel Adler recently shared his analysis on X , noting
that the average Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rally this year has lasted around 25 days, compared
to an average of 35 days over the past 15 years. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin higher price
performance showing rally duration. | Source: Axel Adler on X CrytpoQuant

According to Adler, this shorter duration is the minimum expectation for the
current market cycle. However, with favorable macroeconomic conditions, he
believes that a 100-day rally is entirely possible. He clarified that this
forecast is based on his intuition rather than concrete data, highlighting the
unpredictable nature of the crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.

As Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s price approaches higher levels of supply around $70,000,
investors are watching closely. This key resistance level hasn’t been tested
since late July. A successful push past $70,000 would not only validate the
current rally but also set the stage for a potential challenge to all-time
highs.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Dominance ‘Hinting At Possible Dip To 47%’ –
Altseason On The Horizon?

The recent surge has sparked excitement, but many are still cautious, waiting
to see if Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin can maintain its momentum and break through this crucial
threshold. If Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin can sustain its upward trend and break past these
levels, it could signal the start of a powerful and extended rally, bringing
renewed attention and capital into the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market.

BTC Price Testing Crucial Supply

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is currently trading at $66,065, having broken past the daily 200
moving average (MA) at $63,797 and closed above it for two consecutive days.
This decisive move indicates strong bullish momentum and has brought renewed
optimism to the market. BTC trading above the 1D 200 MA. | Source: BTCUSDT
chart on TradingView

The price is now flirting with higher supply levels, and a surge past the
$70,000 mark could trigger a wave of demand, potentially leading to fear of
missing out (FOMO) among traders and investors. Such a breakout would likely
attract more capital into the market, further fueling the rally.

However, caution is warranted as Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin must sustain its position above the
daily 200 MA to maintain this bullish outlook. A failure to hold above this
critical level could lead to a retracement, testing lower demand zones around
$60,000. This would provide an opportunity for bulls to accumulate before the
next leg up, but it could also introduce uncertainty and hesitation in the
market.

Related Reading: Dogecoin Eyes $0.11 Breakout As RSI Signals A Shift – Can
DOGE Target New Highs?

For now, all eyes are on Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s ability to continue its upward
momentum and break past the $70,000 resistance, which would solidify its
position in` a confirmed uptrend and potentially set the stage for a new
all-time high in the coming weeks.

Featured image from Dall-E, chart from TradingView

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