Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Trump’s Truth Social Introduces ‘Gems’ Linked to Utility Token

July 10, 2025

Top Coins To Buy And HODL As Nvidia Briefly Surpasses $4T Market Cap

July 10, 2025

Viral ETH Meme Coin Under $0.0015 Predicted to Hit $0.60 if Ethereum Reaches $7,000 in 2025

July 10, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Bitcoin Breaking Out: Is it the Right Time to Long BTC or Wait for the Bullish Confirmation?

0
By on September 27, 2024 Altcoin, Bitcoin, Regulations, Trading, Web3
Share
Facebook Twitter LinkedIn Pinterest Email

The post Bitcoin Breaking Out: Is it the Right Time to Long BTC or Wait for the Bullish Confirmation? appeared first on Coinpedia Fintech News

Historically, the Bitcoin price has recorded an average gain of just a few percent in September; however, the trend is expected to change soon. The first few days of drought followed a similar trend, while the rebound that followed not only squashed the bearish possibility but triggered the probable beginning of a bull run in 2024. After breaching above the 200-day MA MA, the BTC price has confirmed the start of the next bullish cycle with potential targets beyond $100K. 

Recently, the Hamster Kombat (HMSTR) launch made huge rounds across the markets. Unfortunately, the players are pretty disappointed after the launch and this could be one of the reasons for the liquidity entering back into the star token. Therefore, the BTC price, which has soared above $65,300, needs continuation for a couple of days. The current trade setup resembles more of a corrective wave than a breakout wave and hence the traders are required to be vigilant, as a failure to achieve the targets may trigger a pullback to a potential low. 

The BTC price remains within a descending parallel channel but has broken above the horizontal consolidation. The price after multiple attempts has surged above the 200-day MA but has not yet flashed a validation of a breakout as it carries the possibility of a fakeout. The DMI levels do not display any major variation as the +Di goes parallel with -Di as a bullish reversal should have been formed in case of a breakout. This suggests there could be some possibility of a rejection, as it happened in the previous couple of attempts. 

However, the BTC price is trading in a phase with brittle resistance and support levels and hence neither the breakout nor the breakdown can be confirmed at the moment. However, a daily close above $65,500 may revive bullish hopes but a close below $64,000 may raise the alarms. 

Besides, it has been good days for the Bitcoin ETFs as the netflows surged above $365 million for the first time in the month. Probably, the institutions knew very well much before and as a result, they constantly accumulated regardless of the price variations. For instance, Blackrock now holds nearly 1.7% of the total BTC supply, around 362,000 BTC. This has been showing confidence in the token’s long-term potential as they see a bigger picture beyond the current price variations. 

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump’s Truth Social Introduces ‘Gems’ Linked to Utility Token

July 10, 2025

Top Coins To Buy And HODL As Nvidia Briefly Surpasses $4T Market Cap

July 10, 2025

Viral ETH Meme Coin Under $0.0015 Predicted to Hit $0.60 if Ethereum Reaches $7,000 in 2025

July 10, 2025
Leave A Reply Cancel Reply

What's New Here!

Trump’s Truth Social Introduces ‘Gems’ Linked to Utility Token

July 10, 2025

Top Coins To Buy And HODL As Nvidia Briefly Surpasses $4T Market Cap

July 10, 2025

Viral ETH Meme Coin Under $0.0015 Predicted to Hit $0.60 if Ethereum Reaches $7,000 in 2025

July 10, 2025

Cardano Price Surges 10%: Is $1 Within Reach?  

July 10, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.