{"id":30332,"date":"2023-09-29T18:52:44","date_gmt":"2023-09-29T22:52:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30332"},"modified":"2023-09-29T18:52:44","modified_gmt":"2023-09-29T22:52:44","slug":"bitcoin-eyes-turnaround-could-a-new-all-time-high-be-on-the-horizon-analyst-predicts","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/29\/bitcoin-eyes-turnaround-could-a-new-all-time-high-be-on-the-horizon-analyst-predicts\/","title":{"rendered":"Bitcoin Eyes Turnaround: Could A New All-Time High Be On The Horizon? Analyst Predicts"},"content":{"rendered":"

Crypto Rover, a seasoned cryptocurrency trader and analyst, has recently shared<\/a> insights suggesting that Bitcoin\u2019s current trajectory may change. Based on the latest technical analysis, Bitcoin might soon paint a brighter, bullish picture.<\/p>\n

Bitcoin\u00a0Break From The Bearish Shackles<\/h2>\n

In his recent analysis, Crypto Rover explained Bitcoin\u2019s price action shift. It\u2019s been noted that the leading crypto is making headway in breaking a longstanding negative trend<\/a> that has persisted for 77 days. This shift marks a monumental moment for Bitcoin, which had been entrapped in bearish confines for a considerable duration.<\/p>\n

Crypto Rover\u2019s assertions are not without merit. The analyst anticipates a more concrete bullish reversal if BTC sustains a break above the $27,200 mark. It is worth noting that the achievement of such a feat could give traders and investors the confidence to venture deeper into BTC, given the positive momentum. <\/p>\n

Beyond this threshold, Rover further disclosed that a breach above the $31,000 level would serve as an \u201cunmistakably\u201d bullish beacon, potentially propelling Bitcoin to scale new all-time highs.<\/p>\n

In a broader context, BTC seems to be making efforts to break free from its bearish constraints. While its price has mostly ranged between $26,000 and $27,000 zone over the past week, its market capitalization<\/a> has notably increased by more than $5 billion.<\/p>\n

BTC\u2019s 4-hour chart suggests it\u2019s in a consolidation phase. This could indicate that the top crypto may be bracing for a significant move<\/a>, as such phases often signal that the market makers are determining the next potential price trajectory.<\/p>\n

Bitcoin is priced at $26,844, witnessing a nearly 1% drop over the last 24 hours. Its 24-hour trading volume is $15.5 billion, a considerable uptick from the $9.9 billion seen just last Friday.<\/p>\n

Anticipation Of Regulatory Winds Of Change<\/h2>\n

Furthermore, it\u2019s not only the charts that dictate the potential bullish swing for Bitcoin. An undercurrent of fundamental factors plays into this optimistic outlook<\/a> as well. <\/p>\n

At the core of this optimism is the anticipation surrounding the US Securities and Exchange Commission (SEC) and their forthcoming decisions on Bitcoin spot exchange-traded fund (ETF) applications.<\/p>\n

Recently, the SEC deferred its decision<\/a> on the BTC spot ETF application from Blackrock, one of the world\u2019s leading fund managers. However, Crypto Rover believes that this approval, when it comes, could set off a \u201cdomino effect.\u201d<\/p>\n

According to the analyst, should Blackrock gain the coveted SEC nod, it may pave the way for subsequent approvals for other major institutional players<\/a>. Such a sequence of green lights could fuel a substantial BTC rally, further solidifying its bullish stance.<\/p>\n

Featured image from iStock, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Crypto Rover, a seasoned cryptocurrency trader and analyst, has recently shared<\/a> insights suggesting that Bitcoin\u2019s current trajectory may change. Based on the latest technical analysis, Bitcoin might soon paint a brighter, bullish picture.<\/p>\n

Bitcoin\u00a0Break From The Bearish Shackles<\/h2>\n

In his recent analysis, Crypto Rover explained Bitcoin\u2019s price action shift. It\u2019s been noted that the leading crypto is making headway in breaking a longstanding negative trend<\/a> that has persisted for 77 days. This shift marks a monumental moment for Bitcoin, which had been entrapped in bearish confines for a considerable duration.<\/p>\n

Crypto Rover\u2019s assertions are not without merit. The analyst anticipates a more concrete bullish reversal if BTC sustains a break above the $27,200 mark. It is worth noting that the achievement of such a feat could give traders and investors the confidence to venture deeper into BTC, given the positive momentum. <\/p>\n

Beyond this threshold, Rover further disclosed that a breach above the $31,000 level would serve as an \u201cunmistakably\u201d bullish beacon, potentially propelling Bitcoin to scale new all-time highs.<\/p>\n

In a broader context, BTC seems to be making efforts to break free from its bearish constraints. While its price has mostly ranged between $26,000 and $27,000 zone over the past week, its market capitalization<\/a> has notably increased by more than $5 billion.<\/p>\n

BTC\u2019s 4-hour chart suggests it\u2019s in a consolidation phase. This could indicate that the top crypto may be bracing for a significant move<\/a>, as such phases often signal that the market makers are determining the next potential price trajectory.<\/p>\n

Bitcoin is priced at $26,844, witnessing a nearly 1% drop over the last 24 hours. Its 24-hour trading volume is $15.5 billion, a considerable uptick from the $9.9 billion seen just last Friday.<\/p>\n

Anticipation Of Regulatory Winds Of Change<\/h2>\n

Furthermore, it\u2019s not only the charts that dictate the potential bullish swing for Bitcoin. An undercurrent of fundamental factors plays into this optimistic outlook<\/a> as well. <\/p>\n

At the core of this optimism is the anticipation surrounding the US Securities and Exchange Commission (SEC) and their forthcoming decisions on Bitcoin spot exchange-traded fund (ETF) applications.<\/p>\n

Recently, the SEC deferred its decision<\/a> on the BTC spot ETF application from Blackrock, one of the world\u2019s leading fund managers. However, Crypto Rover believes that this approval, when it comes, could set off a \u201cdomino effect.\u201d<\/p>\n

According to the analyst, should Blackrock gain the coveted SEC nod, it may pave the way for subsequent approvals for other major institutional players<\/a>. Such a sequence of green lights could fuel a substantial BTC rally, further solidifying its bullish stance.<\/p>\n

Featured image from iStock, Chart from TradingView<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-30332","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=30332"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30332\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30332"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}