The crypto realm is abuzz with predictions. A prominent figure in the crypto trading community, Josh Olszewicz, has recently provided insights into the potential price trajectory of Bitcoin (BTC). Olszewicz’s Analysis suggests...
Furthermore, Olszewicz has drawn attention to the existence of two additional bullish technical patterns. This includes the “Adam & Eve” (A&E) and the inverted head and shoulders (iH&S) formations. These patterns signify a certain hesitancy within the market to shift toward bearish territory. They are typically viewed as indicators of a bullish reversal. Nonetheless, Olszewicz underscores a crucial caveat: the emergence of a substantial downturn could disrupt this optimistic pattern. It could potentially redirect Bitcoin’s value towards the $31,000 level.
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Bitcoin futures record major spike
At press time, Bitcoin was trading at $34,272.02, marking a modest 0.69% increase. The asset’s price movements are being closely monitored as it endeavors to ascend to higher levels. Additionally, Bitcoin futures contracts have experienced a surge in open interest, reaching $15.83 billion, the highest level since early June 2022. Open interest in Bitcoin futures has seen a significant 33.5% increase since October, signaling a growing interest in BTC. Bitcoin options holdings are also substantial, currently totaling around $15 billion, having reached a historic peak of $17.73 billion on Oct. 27.
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