Rally

2024

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Bitcoin

Captain

<p>The post <a href="https://coinpedia.org/news/top-crypto-trader-predicts-bullish-rally-for-bitcoin-citing-repeating-historical-pattern/" rel="noopener noreferrer nofollow">Top Crypto Trader Predicts Bullish Rally For Bitcoin Citing Repeating Historical Pattern</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With bitcoin (BTC) slipping below the $60,000 mark, there’s speculation that the cryptocurrency correction could be transitioning into a bear market. The lackluster debut of <a href="https://coinpedia.org/news/first-day-of-hong-kongs-etf-disappoints-as-bloodbath-continues/" rel="noopener noreferrer nofollow">spot ETFs in Hong Kong</a>, coupled with concerns over interest rates, has provided ample motivation for traders to offload their holdings. Despite this fluctuation renowned crypto trader Captain Faibik sees a bullish rally in the coming days.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-faces-critical-test-at-ma100">Bitcoin Faces Critical Test at MA100</h2>
<p>Bitcoin (BTC) is once again at a critical juncture as it tests the crucial Moving Average 100 (MA100) level on the daily chart. This level has historically served as a significant support zone for the leading cryptocurrency.&nbsp;</p>
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   <p lang="en" dir="ltr">Last time, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> bounced back from the daily MA100, and now it's testing it again. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>If it bounces back from here, we can Expect a Bullish Rally in the Coming days. <br><br>New All the High could be incoming this month. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/270d.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/3OCBa5ylSg" rel="noopener noreferrer nofollow">pic.twitter.com/3OCBa5ylSg</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1785515818853265455?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 1, 2024</a>
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<p>The MA100 is a widely followed technical indicator in the cryptocurrency market. It represents the average closing price of an asset over the past 100 days, providing traders with insights into the long-term trend. Bitcoin has a history of finding support at the MA100 during bull markets, often leading to significant price rallies.</p>
<p>Meanwhile, analysts believe that if <a href="https://coinpedia.org/documentries/bitcoin-price-prediction-2024-experts-forecast/" rel="noopener noreferrer nofollow">Bitcoin manages to bounce</a> back from this level, it could signal the start of a bullish rally in the coming days.</p>
<h2 class="wp-block-heading" id="h-bitcoin-to-bounce-back">Bitcoin To Bounce Back</h2>
<p>Further into analysis, a notable observation is the daily Relative Strength Index (RSI), which has been trending below a multi-month trendline. This development suggests a temporary weakening of bullish momentum, prompting caution among traders. However, many analysts interpret this as a precursor to a potential bounce-back in Bitcoin’s price.</p>
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   <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> is Still Moving inside the Bullish Flag Pattern.<br><br>Daily RSI is moving below the multi-month Trendline..<br><br>Expecting a Bounce back towards $68k in the Coming days. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.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/LuaX4VkzX9" rel="noopener noreferrer nofollow">pic.twitter.com/LuaX4VkzX9</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1785512569546920310?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 1, 2024</a>
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<p>Captain Faibik’s assessment aligns with this sentiment, as he anticipates a rebound towards the $68,000 mark in the coming days. This projection has garnered attention from the crypto community, with investors eagerly <a href="https://coinpedia.org/news/crypto-trader-forecasts-upcoming-altcoin-season-as-bitcoin-eyes-74k-breakout/" rel="noopener noreferrer nofollow">awaiting Bitcoin’s next move</a>.</p>
<p>Despite short-term fluctuations, the overall sentiment surrounding Bitcoin remains positive, fueled by ongoing institutional adoption and increasing mainstream acceptance.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin Price Analysis</h2>
<p>As Bitcoin tests the MA100 once again, the cryptocurrency market is at a crucial juncture. The outcome of this test could have significant implications for the direction of Bitcoin’s price in the near term.</p>
<p>As of now the price of <a href="https://markets.coinpedia.org/bitcoin" rel="noopener noreferrer nofollow">Bitcoin stands at $59,982</a>, reflecting a marginal decline of 5.17% over the past 24 hours. However, amidst this dip, trading volume has surged by 42%, reaching $38 billion, while the market cap remains stable at $1.18 trillion.</p>

Top Crypto Trader Predicts Bullish Rally For Bitcoin Citing Repeating Historical Pattern

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