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<p>The post <a href="https://coinpedia.org/news/bitcoins-rally-towards-a-new-yearly-highcould-it-reach-48k-by-years-end/">Bitcoin On a Roll! Is $48k the Next Target After Bullish Pattern Break?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> has been on a notable uptick, boasting a solid 3.7% weekly increase and firmly staying above the $43,600 mark. Many eyes are now on trader Josh Olszewicz, who believes Bitcoin could reach $48,000 if it can cross the $44,000 level.</p> 
<p>Meanwhile, this optimistic forecast is based on the technical patterns identified on the cryptocurrency’s price chart. What insights can we gain from this? Read on!</p> 
<h2 class="wp-block-heading" id="h-understanding-bitcoin-s-technical-indicators"><strong>Understanding Bitcoin’s Technical Indicators</strong></h2> 
<p>Josh Olszewicz recently highlighted some key patterns on <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a> chart via Twitter. These patterns, known as “A&amp;Es” or Adam and Eve patterns, typically signal a positive change in trend. He also pointed out another pattern, an inverted head and shoulders, which is seen as a positive sign for the market.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a><br><br>repeated A&amp;Es with a potential iHHS up here<br><br>&gt;44k = breakout with potential attempt towards 48 <a href="https://t.co/Ip4F83R3er">pic.twitter.com/Ip4F83R3er</a></p>— Josh Olszewicz (@CarpeNoctom) <a href="https://twitter.com/CarpeNoctom/status/1737885957901148423?ref_src=twsrc%5Etfw">December 21, 2023</a>
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<p>With these technical signs aligning, especially near important resistance levels, breaking past the $44,000 mark could pave the way for a strong upward movement towards $48,000.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/bitcoin-price-to-hit-50k-with-bitcoin-etf-approval-matrixport-research-report/">Bitcoin Price To Hit $50K with Bitcoin ETF Approval: Matrixport Research Report</a></p> 
<p><strong>Other Factors in Play</strong></p> 
<p>Analyst Jake Wujastyk also noted a symmetrical triangle pattern, adding weight to the potential upward movement. Additionally, the ongoing talks about a possible <a href="https://coinpedia.org/crypto-live-news/matrixport-predicts-bitcoin-spot-etf-approval-by-sec-in-january/">Bitcoin ETF approval</a> in 2024 are creating excitement and could influence market dynamics.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Looks ready for a breakout. <a href="https://twitter.com/search?q=%24BTCUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTCUSD</a> <a href="https://t.co/P6C00e8qz0">pic.twitter.com/P6C00e8qz0</a></p>— Jake Wujastyk (@Jake__Wujastyk) <a href="https://twitter.com/Jake__Wujastyk/status/1737450411596926989?ref_src=twsrc%5Etfw">December 20, 2023</a>
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<p>Read More: <a href="https://coinpedia.org/news/max-keiser-warns-of-hidden-dangers-in-upcoming-bitcoin-etfs/">Max Keiser Warns of Hidden Dangers in Upcoming Bitcoin ETFs</a></p> 
<h2 class="wp-block-heading" id="h-a-word-of-caution">A Word of Caution</h2> 
<p>However, not everyone shares this bullish outlook. Analyst Stockmoney Lizards believes a market correction might be necessary. If Bitcoin drops below $40k, it could lead to challenges for some trading positions, potentially pushing the price down to around $38k. Factors like the need for market corrections after rallies and year-end tax considerations might contribute to this viewpoint.</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> <br><br>Important – detailed short- to mid-term price update:<br><br>Status quo: Although a correction seems necessary, BTC chart continues to look very strong on all timeframes. BTC is forming an ascending triangle with another retest of the upper resistance line (~44k).<br><br>Outlook… <a href="https://t.co/BI3w1cZjuf">pic.twitter.com/BI3w1cZjuf</a></p>— Stockmoney Lizards (@StockmoneyL) <a href="https://twitter.com/StockmoneyL/status/1737732563228139848?ref_src=twsrc%5Etfw">December 21, 2023</a>
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<p>Recent figures also reveal some market vulnerabilities. On December 20th, there was a significant amount, around $100 million, of liquidated short positions in the crypto market, the highest in two weeks. Bitcoin’s portion of these liquidations was about $38.5 million. This data adds another layer to the ongoing discussion about Bitcoin’s price direction.</p> 
<p>In summary, while there is optimism about Bitcoin’s potential rise, there are also considerations and differing viewpoints to keep in mind as the market continues to evolve.</p>

Bitcoin On a Roll! Is $48k the Next Target After Bullish Pattern Break?

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