As Bitcoin Price Grapples With $9K, A Bullish Pattern Suggests Next Jump Will See It Through To $10.5K

bitcoin Shows Bullish Momentum

A cryptocurrency analyst is predicting that bitcoin could reach $48,000 as it shows strong signs of reclaiming previous price levels.

Crypto Investor Makes Bullish bitcoin Predictions

X, formerly known as Twitter, is where a long-term stock and crypto investor shared bullish price predictions for bitcoin with his 50,000 followers. The investor highlighted bitcoin‘s breakout from a bullish megaphone formation, indicating a promising bullish pattern for the cryptocurrency.

bitcoin Breaks Resistance Level

The breakout from a major resistance level confirms bitcoin‘s new upward momentum. The investor sees bitcoin hitting $48,000, although no specific time frame is provided.

The investor’s post underlines this bullish sentiment, stating, “bitcoin has broken out from the bullish megaphone formation! With the key resistance behind us, that $48,000 target could come faster than many people think.”

The investor also refutes bearish sentiment and suggests that bitcoin‘s 2-year downtrend is broken, hinting that the market will not return to lower levels. bitcoin is currently trading at $36,861, with a 26% surge in the last 30 days and a 32% increase in trading volume within 24 hours.

### News source:

See also  Milei's Presidency: Impact on Argentina, El Salvador, and Bitcoin

By Team