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<p>The post <a href="https://coinpedia.org/news/bitcoin-to-skyrocket-by-200-surge-key-indicators-signal-massive-breakout/">Bitcoin To Skyrocket By 200% Surge? Key Indicators Signal Massive Breakout</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) on-chain data indicates a rise in daily active addresses, along with a slight increase in flows into <a href="https://coinpedia.org/crypto-live-news/bitcoin-etfs-record-129m-inflows-on-july-1st-can-bitcoin-recover/">US spot Bitcoin ETFs</a> potentially triggering an upward rally in the coming days.</p> 
<p>Meanwhile, prominent crypto influencer Wise Advice highlighted a significant development in the Bitcoin market. The Bitcoin weekly Bollinger Band has reached its second lowest level in 6 years, a signal that could hint at a 200% rise from its current price level.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-historical-pattern-hints-200-rise">Bitcoin Historical Pattern Hints 200% Rise</h2> 
<p>According to a recent tweet by Wise Advice pointed out that the last time the Bollinger Band was this tight, Bitcoin was trading at $24,000. Following that, Bitcoin experienced a dramatic surge, skyrocketing by 200% within just five months.&nbsp;</p> 
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   <p lang="en" dir="ltr">Bitcoin Holders, Read this <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">&nbsp;<br>&nbsp;<br>The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> weekly Bollinger band is now at its 2nd lowest level in 6 years.<br>&nbsp;<br>The last time it was this low, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> was trading at $24K, and it pumped 200% in just 5 months <a href="https://t.co/jnud3pCjAr">pic.twitter.com/jnud3pCjAr</a></p>— Wise Advice (@wiseadvicesumit) <a href="https://twitter.com/wiseadvicesumit/status/1807803804857057703?ref_src=twsrc%5Etfw">July 1, 2024</a>
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<p>Bollinger Bands are a popular technical analysis tool used by traders to identify volatility and potential price reversals in the market. When the bands are tight, it indicates low volatility and can often precede significant price movements, either upward or downward.&nbsp;</p> 
<p>With <a href="https://coinpedia.org/news/is-altcoin-season-on-the-horizon-heres-what-analyst-weighs-in/" target="_blank" rel="noreferrer noopener">Bitcoin currently</a> showing this pattern, many analysts and traders are speculating about an upcoming breakout. If history repeats itself, <a href="https://coinpedia.org/crypto-live-news/bitcoin-price-to-retest-its-lower-support-before-preparing-for-an-upward-trajectory/">Bitcoin surge</a> by 200% from its current price level we can see Bitcoin reach around $180k in the coming months.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-etfs-saw-slow-inflow">Bitcoin ETFs Saw Slow Inflow</h2> 
<p>According to data from Lookonchain, nine Bitcoin spot ETFs added 526 BTC worth $33 million on July 1, marking five consecutive days of net inflows. BlackRock added 1,366 BTC, worth $85.9 million, bringing its total to 306,979 BTC, valued at $19.3 billion.</p> 
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   <p lang="en" dir="ltr">Jun 28 Update:<br><br>9 ETFs added 596 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>(+$36.5M).<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> added 60 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>(+$3.6M) and currently holds 275,955 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($16.89B).<a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw">#Fidelity</a> added 109 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>(+$6.7M) and currently holds 167,900 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($10.28B).<a href="https://t.co/za5wGnJmMC">https://t.co/za5wGnJmMC</a> <a href="https://t.co/KFIhG6EwSa">pic.twitter.com/KFIhG6EwSa</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1806696231915360714?ref_src=twsrc%5Etfw">June 28, 2024</a>
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<p>Meanwhile, Grayscale, Invesco, and Fidelity saw decreases of 198, 201, and 437 BTC, respectively. Together, the nine Bitcoin spot ETFs hold $54.3 billion in Bitcoin.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-technical-analysis">Bitcoin Technical Analysis</h2> 
<p>On Monday, Bitcoin’s price broke above a falling wedge pattern but faced rejection at the daily resistance level of $63,956. As of now, Bitcoin is trading <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">below this level at $62,916</a>, with a slight decrease in its price.&nbsp;</p> 
<p>If Bitcoin manages to close above the $63,956 resistance level, it could potentially rise by 5% to test the next weekly resistance at $67,147.</p> 
<p>Read Also: <a href="https://coinpedia.org/news/ether-spot-etfs-to-attract-5b-net-inflows-in-first-6-months-gemini/" target="_blank" rel="noreferrer noopener">Ether Spot ETFs To Attract $5B Net Inflows in First 6 Months: Gemini</a></p>

Bitcoin To Skyrocket By 200% Surge? Key Indicators Signal Massive Breakout

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