Cryptocurrency

Bitcoin ETF

Bitcoin

<div class="finbold">
 <p class="paragraph">Despite a recent very modest drawback, things are looking exceptionally good for the price of Bitcoin (BTC), which has just made a successful breakout to a positive chart pattern and completed a <a rel="noopener noreferrer nofollow" title="perfect" href="https://thebittimes.com/tag/perfect.html">perfect</a> <a rel="noopener noreferrer nofollow" title="retest" href="https://thebittimes.com/tag/retest.html">retest</a> of a critical <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> necessary for its bullish continuation.</p>
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 <p class="paragraph">As it happens, the flagship decentralized finance (DeFi) asset has gone through a breakout to a bullish pennant pattern with a perfect retest, according to the chart analysis shared by pseudonymous cryptocurrency expert <em>Trader Tardigrade </em>in an X post on December 20.</p>
 <p class="paragraph">Specifically, as the analyst’s observations of the chart patterns suggest, the maiden crypto asset has recently made a breakout at the <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> around $42,500, followed by a successful <a rel="noopener noreferrer nofollow" title="retest" href="https://thebittimes.com/tag/retest.html">retest</a> of this exact price threshold, after which nothing stands in its way toward a bullish rally.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/rPNkTM57WK6GH6CEW6Jejhiq1oaBxqjt30B6MvqB_C-jDeRiEYeGMEPfj7lMP08eOE8PePpVh5p6EsxNDi35q7j1OGDEWhgc9lqmebd0bo5k65-Uae6x2hZNlRJrWST-ITZYb3kmQYOaFAw4amfzmOT-CrS6s_FTEDtJR8qRL7_QbgIiBP8p_ex-iqURUw" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin price action analysis. Source: </em><em>Trader Tardigrade</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">Meanwhile, Bitcoin was at press time changing hands at the price of $42,846, which represents a slight decline of 0.63% in the last 24 hours but still indicates an increase of 4.31% across the previous seven days, in addition to gaining a more significant 15.13% over the past month, according to the latest data.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/0-xQdn_4MPSz4BON-RyE5DoioWZDpNrri0ZlUavlagiVHLXmNuCKY2SzUOEYtBAJ4LUIez9Dt8vssp8avGlTCZnqcD-2yIILHK53zLPo2S2gtwJehFsdzRllzgdreYsuqrJ_yB7aR72fdocrI7uvVbZDKb09JG9mE3hl5pMKMBJHmBdO9amMZVSbBx9rxA" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Earlier, crypto market expert Michaël van de Poppe noted that the correction seems to be over for the largest digital asset by market capitalization, expecting it to test the zone between $47,000 and $50,000 right before the spot Bitcoin exchange-traded fund (ETF) approval, as Finbold reported on December 19.</p>
 <p class="paragraph">Indeed, multiple analysts believe that the approval of the first spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC) would set off a rally, possibly unlocking over $70 billion in capital and pushing it toward new highs, considering its explosive reaction to the false reports of approval in October.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.&nbsp;</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-completes-perfect-retest-of-this-key-level-tbt74266.html">https://thebittimes.com/bitcoin-completes-perfect-retest-of-this-key-level-tbt74266.html</a></p>

Bitcoin completes ‘perfect retest’ of this key level

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