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<p>The post <a href="https://coinpedia.org/news/bitcoin-rally-or-final-capitulation-top-analyst-reveals-key-scenarios-to-watch/">Bitcoin Rally or Final Capitulation? Top Analyst Reveals Key Scenarios To Watch</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin began this week with plenty of ups and downs, currently hovering around <a href="https://markets.coinpedia.org/bitcoin/">$59,000 with a slight 1%</a> increase. Historically, September has been a challenging month for Bitcoin, often showing mostly negative returns.&nbsp;</p> 
<p>Prominent crypto analyst Titan of Crypto suggests that Bitcoin could either be on the verge of a major rally or facing a final capitulation before a potential rebound. Here’s a closer look at the two scenarios that could shape Bitcoin’s price in the coming months.</p> 
<h2 class="wp-block-heading" id="h-scenario-1-the-bullish-breakout">Scenario 1: The Bullish Breakout</h2> 
<p>According to Titan of Crypto, Bitcoin is currently in a consolidation phase within a falling wedge pattern. If Bitcoin can break through the $65,000 mark, it could trigger a significant rally. </p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Rally or Final Capitulation? <br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> 2 scenarios from here:<br><br>1⃣ A rally defying expectations of a "Rektember" <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa78.png" alt="🩸" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>2⃣ A final capitulation—though it seems too obvious—pulling back to the trendline, sweeping the early August low, before an end-of-year rally. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><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>Which… <a href="https://t.co/m970ZTf4lY">pic.twitter.com/m970ZTf4lY</a></p>— Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1830893871980544258?ref_src=twsrc%5Etfw">September 3, 2024</a>
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<p>In this scenario, Bitcoin might surge to around $150,000 by the end of the year. This would show a strong bullish trend and renewed optimism among investors.</p> 
<p>Scenario 2: Final Capitulation</p> 
<p>On the flip side, Titan of Crypto also considers the possibility of a final capitulation. This would involve Bitcoin dipping back to its trendline and potentially falling below the early August lows which is at $49,000 before starting a slow recovery.&nbsp;</p> 
<p>Such a capitulation could be a final shakeout of weaker investors before a gradual rally gains traction.</p> 
<p>As Bitcoin <a href="https://coinpedia.org/crypto-live-news/bitcoins-september-struggle-a-historic-trend-or-a-setup-for-a-q4-surge/">continues to fluctuate,</a> these scenarios highlight the critical points to watch. While a breakout above $65,000 could lead to a dramatic surge in Bitcoin’s price, a final capitulation could set the stage for a more gradual recovery.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-current-move-consolidation-or-breakout">Bitcoin’s Current Move: Consolidation or Breakout?</h2> 
<p>As of now, Bitcoin’s price stands at $59,105.22, up by 1% over the last 24 hours. Despite this slight rise, its trading volume has <a href="https://coinmarketcap.com/currencies/bitcoin/">dropped by 19% to $23.65 billion</a>. Meanwhile, the cryptocurrency is struggling to break through the $60,000 barrier and is focused on pushing past $61,718 to sustain its bullish trend.</p> 
<p>Earlier in mid-Auguest Bitcoin attempted to surpass this $61,718 level but failed, resulting in a drop below this resistance. As a result, Bitcoin is now consolidating between this resistance level and the $58,000 support. This consolidation phase may delay a significant breakout from its current price range.</p> 
<p>On a positive note, Bitcoin Futures Open Interest (OI) has <a href="https://coinalyze.net/bitcoin/open-interest/">risen by 1%</a> to $30.43 billion, indicating a generally optimistic market sentiment towards the cryptocurrency.</p>

Bitcoin Rally or Final Capitulation? Top Analyst Reveals Key Scenarios To Watch

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