2024

Bitcoin

when

Resistance

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-poised-for-a-massive-move-analysts-see-btc-to-surge-by-178-soon/">Bitcoin Price About to EXPLODE? Analyst Predicts EPIC 178% Surge!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After a few days of sluggish and sideways trading, Bitcoin took a sudden dip, briefly dipping below $66,600 for the week. But don’t hit the panic button just yet! The cryptocurrency quickly rebounded to hover around $68,700.</p> 
<p>Traders and analysts turned their attention to <a href="https://coinpedia.org/news/cryptoquant-ceo-suggests-bitcoin-mirroring-mid-2020-trends-is-the-next-bull-run-ahead/">Bitcoin’s promising signs</a>, particularly highlighted by renowned analyst Mags, who hinted at a potential surge of a whopping 178%, possibly pushing its value to an impressive $188,000.</p> 
<h2 class="wp-block-heading" id="h-is-a-bitcoin-boom-coming">Is a Bitcoin Boom Coming? </h2> 
<p>Mags pointed out a crucial development: Bitcoin’s breakthrough above its previous monthly resistance in March, which has now become a strong support level.</p> 
<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/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> just closed another monthly candle above support<br><br>The price broke out above the last monthly resistance back in March and has now turned the level into support. <br><br>For the past few months, price has been going sideways above the previous ATH<br><br>In an uptrend, it's normal… <a href="https://t.co/QYdPybKJp5">pic.twitter.com/QYdPybKJp5</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1796806917286928633?ref_src=twsrc%5Etfw">June 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Since then, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> has been moving sideways, holding its ground above its former all-time high. This lateral movement, often observed during bullish trends, usually precedes significant price shifts.</p> 
<p>Referring to past events, Mags recalled a similar scenario from the previous year when Bitcoin remained relatively flat from March to September. Following this period of stagnation, it saw an impressive surge of 178%. This historical pattern suggests that the current sideways movement could be paving the way for another notable breakthrough.</p> 
<h2 class="wp-block-heading" id="h-mapping-bitcoin-s-journey">Mapping Bitcoin’s Journey </h2> 
<p>If Bitcoin follows the same pattern and experiences a 178% surge from its current range, it could skyrocket to a remarkable $188,000. Such a remarkable rise would undoubtedly grab the attention of traders and investors worldwide.</p> 
<p>As of the latest update, <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> is trading at $67,669, showing a slight dip over the past 24 hours. Additionally, Bitcoin’s trading volume has decreased by 7%, settling at $24 billion, while its market cap remains solid at $1.33 trillion.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/price-analysis/bitcoin-ordinals-brc-20-tokens-surge-despite-market-consolidation-whats-next/">Bitcoin Ordinals (BRC-20) Tokens Surge Despite Market Consolidation! What’s Next?</a></p> 
<p><strong>Love it or hate it, Bitcoin continues to be a game-changer in the investment world.</strong></p>

Bitcoin Price About to EXPLODE? Analyst Predicts EPIC 178% Surge!

Table of Contents

CoinPedia News

Other articles published on Jun 1, 2024

Ali Martinez Predicts Significant Price Increase for Dogecoin

DePIN: Embracing the Decentralized Future

Bitcoin Shark, Whale Investors Go To The Market – Here’s How Much BTC They Bought

Chainlink Surges Over 35% in a Month: What Are the Driving Forces?

BlockDAG Outshines MATIC and TRON with Bold $10 Prediction; Achieves $38.3M in Presale Success

New Solana Memecoin Devil Biden (DEVBIDEN) Will Explode 14,000% in 48 Hours – Should You Buy It?

Join our free newsletter for daily crypto updates!