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<p>The post <a href="https://coinpedia.org/news/bitcoin-poised-to-surge-62-legendary-trader-identifies-similar-historic-pattern/" rel="noopener noreferrer nofollow">Bitcoin Poised To Surge 62%: Legendary Trader Identifies Similar Historic Pattern&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Renowned crypto trader Titan of Crypto, known for his accurate market predictions, has suggested that Bitcoin (BTC) might be on the brink of a significant breakout and subsequent rally. His forecast is based on the repetition of a pattern observed in early 2024, which previously led to a substantial price increase of up to 62%.</p>
<h2 class="wp-block-heading" id="h-key-indicators-suggesting-a-breakout">Key Indicators Suggesting a Breakout</h2>
<p>According to Titan of Crypto, several key technical indicators are aligning to suggest a potential bullish movement for Bitcoin. One of these indicators is the <a href="https://coinpedia.org/news/bitcoin-forms-golden-cross-is-bull-run-coming/" rel="noopener noreferrer nofollow">Ichimoku Golden Cross</a>, a bullish signal that occurs when the short-term moving average crosses above the long-term moving average. This indicates potential upward momentum.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Breakout &amp; Rally Imminent?<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> seems to be repeating the same pattern from early 2024:<br><br>– Ichimoku Golden Cross. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>– Breakout of the Kumo Cloud by the price.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/231b.png" alt="⌛" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>– Breakout of Tenkan <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f534.png" alt="🔴" class="wp-smiley" style="height: 1em; max-height: 1em;"> &amp; Kijun <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f535.png" alt="🔵" class="wp-smiley" style="height: 1em; max-height: 1em;"> by the lagging span <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;">.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/231b.png" alt="⌛" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Last time it happened it went up by +62%. <a href="https://t.co/DasnhwINoz" rel="noopener noreferrer nofollow">pic.twitter.com/DasnhwINoz</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1791048592423018838?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 16, 2024</a>
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<p>Additionally, Bitcoin’s price has broken out of the Kumo Cloud, a crucial part of the Ichimoku indicator that represents support and resistance levels. Breaking above the cloud is considered a bullish signal which will take bitcoin price to near about $1.08 lakh per bitcoin.&nbsp;</p>
<p>Furthermore, the lagging span has broken above both the Tenkan and Kijun lines as shown in the chart, further indicating a potential upward trend.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-to-surge-62">Bitcoin Price To Surge 62%</h2>
<p>Titan of Crypto points out that the last time these conditions were met, Bitcoin experienced a significant rally, increasing by over 62%. This <a href="https://coinpedia.org/news/bitcoin-poised-to-surge-138k-in-18-days-based-on-historical-trends/" rel="noopener noreferrer nofollow">historical precedent</a> is fueling optimism that BTC could see a similar surge soon.</p>
<p>While past performance is not always indicative of future results, the alignment of these technical indicators has caught the attention of many in the crypto community.&nbsp;</p>
<p>As of now, the price of Bitcoin is <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">trading at $66,399</a>, reflecting a 7% increase over the last 24 hours. Notably, Bitcoin experienced a surge of over $4,000 within this period, accompanied by a substantial trading volume of $41.2 billion.</p>

Bitcoin Poised To Surge 62%: Legendary Trader Identifies Similar Historic Pattern

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