The post Bitcoin Price Poise For Major BreakOut, Top Analyst Aims For $86k appeared first on Coinpedia Fintech News
Bitcoin (BTC) enthusiasts have their eyes set on a potential bullish breakout as the cryptocurrency forms a notable pattern on the daily timeframe chart. Renowned analyst Captain Faibik suggests that BTC is currently shaping a bullish flag pattern, if the breakout happens Bitcoin price will see a new all-time high, potentially reaching $86,000.
Bitcoin Forms Bullish Flag Pattern
Bitcoin, the flagship cryptocurrency, is showing signs of a bullish flag pattern on its daily timeframe chart. However, the chart shared by Captain Faibik highlights the bullish flag formation, with clear upward and downward trendlines converging to create a flag-like pattern.
If Bitcoin manages to break out above the upper trendline of the bullish flag pattern, analysts anticipate a significant price surge. The potential upside breakout could propel Bitcoin to achieve new record highs in the coming month.
Bitcoin Eyes For $86k
According to Faibik’s price prediction chart, Bitcoin is anticipated to surge to approximately $74,000, testing its resistance level in the process. However, there might be some corrections along the way before Bitcoin ultimately reaches a new all-time high of $86,000.
Also Check Out : Bitcoin Price Correction Completed: Top Crypto Analyst Predicts BTC Rally to $100K!
Breakout in Ascending Triangle
However, Crypto Rover, a prominent crypto analyst, shares a bullish outlook on Bitcoin, emphasizing the cryptocurrency’s breakout from an ascending triangle pattern.
According to Crypto Rover’s technical analysis, Bitcoin’s price movement suggests a bullish momentum post-breakout. The ascending triangle pattern considered a bullish continuation pattern, indicates the potential for further price appreciation.
Read More : Bitcoin Price Reclaims $66,000:Will This Validate a Bullish Continuation of an Upside Move?
As of now, Bitcoin is trading at $66,400, reflecting a 1.9% increase over the last 24 hours, while its market cap hovers around $1.3 trillion.
