Rally

Bitcoin

April

Resistance

Captain

<p>The post <a href="https://coinpedia.org/news/bitcoin-poised-for-bullish-breakout-says-seasoned-crypto-trader-aims-for-25-rally/">Bitcoin Poised for Bullish Breakout, Says Seasoned Crypto Trader, Aims For 25% Rally</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin prices showed strength on Friday, bouncing back from a <a href="https://coinpedia.org/news/bitcoin-bull-cycle-expected-to-end-by-april-2025-says-cryptoquant-ceo/" target="_blank" rel="noreferrer noopener">recent dip to hover</a> around $66,894.45. This recovery, coupled with the positive inflows into spot bitcoin exchange-traded funds (ETFs) attracted $1.3 billion in inflows this month, offsetting the $344 million in withdrawals seen last month.</p> 
<p>Notably, renowned crypto trader Captain Faibik predicts a 25% bullish rally by June if key resistance levels are cleared.</p> 
<h2 class="wp-block-heading" id="h-25-bitcoin-rally-in-june-expected">25% Bitcoin Rally in June Expected</h2> 
<p>According to Captain Faibik, Bitcoin bulls need to clear the $68k resistance level to confirm a bullish flag breakout. This technical pattern is often seen as a precursor to significant price movements, and breaking this resistance could signal the start of a new upward trend.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is Recovering Nicely and getting Ready for the Next Bullish Rally.. <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>Bitcoin bulls need to clear the $68k Resistance to confirm the Bullish Flag Breakout.<br><br>Once the Breakout is confirmed, expect a +25% Bullish Rally in June. <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">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/4mHUVPfGlT">pic.twitter.com/4mHUVPfGlT</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1791670233591115794?ref_src=twsrc%5Etfw">May 18, 2024</a>
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<p>Once the $68k resistance level is broken, Faibik predicts a robust bullish rally, with Bitcoin expected to gain an additional 25% in June. This optimistic forecast is based on the current market trend and historical price patterns, which often see significant upward movements following key resistance breakouts.</p> 
<p>As of now, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">bitcoin</a> is currently trading at $66,843, reflecting a 2% increase in the last 24 hours. Despite the price surge, trading volume has decreased by 9%, while the market cap has surged to $1.31 trillion.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-etfs-see-1-3b-inflows">Bitcoin ETFs See $1.3B Inflows</h2> 
<p>The positive momentum in the market is supported by consistent inflows into <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">bitcoin ETFs</a>, suggesting that institutional investors are also bullish on the cryptocurrency’s prospects.&nbsp;</p> 
<p>Spot Bitcoin exchange-traded funds (ETFs) have experienced significant inflows in May, attracting $1.3 billion in inflows this month, offsetting the $344 million in withdrawals seen last month.</p> 
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   <p lang="en" dir="ltr">The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch. This key number IMO bc it nets out inflows and outflows (which are normal) <a href="https://t.co/tdnZOKEocM">pic.twitter.com/tdnZOKEocM</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1791443740822745158?ref_src=twsrc%5Etfw">May 17, 2024</a>
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<p>In April, spot Bitcoin ETFs saw substantial outflows, with around $51.5 million withdrawn on April 29 alone. Grayscale’s converted fund, GBTC, was a major contributor to these outflows. Despite this, May has seen a remarkable turnaround, with U.S. spot Bitcoin ETFs recording net inflows of $116.8 million on May 13, ending four weeks of net outflows.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin Price Prediction 2024-2030: Will BTC Price Cross The $100K Milestone Post-Halving?</a></p>

Bitcoin Poised for Bullish Breakout, Says Seasoned Crypto Trader, Aims For 25% Rally

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