Bitcoin

Bitcoin has once again taken the spotlight as analysts expect it to break out soon. In an X post on Wednesday, analyst ZAYK painted a bullish flag pattern for Bitcoin on the 3D chart. In his analysis, if Bitcoin is to break out of this pattern, then a potential new target for Bitcoin will be $80,000.Analyst&#39;s Bullish TargetA bullish flag is a chart formation that signals a sideways consolidation in an upward move of the price. After these corrections, the price continues to rise further. ZAYK stated that the following target should be $80K in case of a breakout. This could be considered a signal that a considerable price increase can follow the current trading range of Bitcoin.Another crypto analyst, Michael van de Poppe, shared his bullish viewpoint regarding Bitcoin. On Wednesday, analysts in an X post pointed out that Bitcoin is expected to rise to the upside. However, he explained that this was subject to the policies set by the Federal Reserve (FED). Van de Poppe pointed out that everyone is now expecting the FED and the interest rates to be cut by 25 to 50 basis points.FED&#39;s InfluenceThe analyst believes that if the <a href="https://cryptotale.org/feds-rate-cut-decision-creates-uncertainty-for-bitcoin/" rel="noopener noreferrer nofollow">FED</a> delivers the expected rate cuts, this would create a trajectory for Bitcoin to rise even more. In that case, the price of Bitcoin may go up and even reach the $65-68K mark.<a href="https://cryptotale.org/bitcoin-nearing-breakout-could-80k-be-the-next-target/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Nearing Breakout: Could $80K Be the Next Target?

CryptoTale

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