Rally

Bitcoin

Captain

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-btc-price-poised-for-8-10-rally-if-this-happens/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Poised For 8-10% Rally If This Happens</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin’s (BTC) price began this week on a bullish outlook after triggering bearish sentiments last week. After a nearly five percent surge in the past two days, Bitcoin price has approached a crucial short-term resistance/support level of around $43,350.</p>
<p>Nonetheless, the Bitcoin bulls still have the upper ground, thus increasing the likelihood of a fresh uproar to a new yearly high in the coming two weeks. Moreover, Bitcoin’s daily average trading volume has been on the rise in the past few days, coupled with the notable decline in BTC supply on centralized exchanges.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin Price Analysis</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> Symmetrical Triangle Breakout is Confirmed..<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Expecting Another 8-10% Bullish Rally..<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/ki9ydzINqe" rel="noopener noreferrer nofollow">pic.twitter.com/ki9ydzINqe</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1736959597775344034?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 19, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>According to a popular crypto analyst alias Captain Faibik on the X platform, Bitcoin bulls are on the cusp of another 8-10 percent spike after a successful rebound in the past two days. The crypto analyst argued that Bitcoin price has been forming a symmetrical triangle in the past week, and now the bulls are in control after a confirmed breakout. The bullish scenario could however be invalidated if Bitcoin price falls below $40,665, as it could raise fears of a rejuvenated sell-off.</p>
<h2 class="wp-block-heading" id="h-favoring-bullish-conditions-nbsp">Favoring Bullish Conditions&nbsp;</h2>
<p>The crypto community has increased confidence in the overall Bitcoin bullish outlook after BlackRock agreed to cash-settled spot BTC exchange-traded funds (ETF) in the latest review. As a result, the expectations of a batch approval within the first two weeks of January have significantly increased. Meanwhile, crypto investors in the United States have come together and raised about $78 million to fund the campaign for next year’s congressional candidates that are pro-blockchain and crypto assets.</p>

Bitcoin (BTC) Price Poised For 8-10% Rally If This Happens

Table of Contents

CoinPedia News

Other articles published on Dec 19, 2023

How Blockchain and IoT Are Transforming Vital Industries

Bitcoin Fee Frenzy: Is It Time To Worry About Soaring Costs?

Chiliz marks a record year for SportFi and fan tokens in 2023

Bitget Wallet Joins Hands with Chiliz, Aims to Promote Development of the SportFi Sector (19 Dec)

5 Beste Penny Crypto om te investeren in 2024

Accenture CEO Reveals Why Many Companies Lag in AI Readiness

Join our free newsletter for daily crypto updates!