After a long period of time, despite limited purchasing pressure, Bitcoin still faces a bullish weekend. Although this indicates the increasing strength of bulls, bears may not be misunderstood as inactive
After a long period of time, despite limited purchasing pressure, Bitcoin still faces a bullish weekend. Although this indicates the increasing strength of bulls, bears may not be misunderstood as inactive. Star cryptocurrencies are following predetermined trends, indicating that a trend reversal is imminent. However, bearish claims always arise, but the likelihood of a bullish breakthrough is high.
Since the beginning of this month, Bitcoin prices have remained stable, despite some minor setbacks during this period. Historically, October has been seen as a bullish month for Bitcoin and the entire cryptocurrency sector. Therefore, similar results are expected in the coming days and there is a possibility of a bearish pullback. A popular analyst, Altcoin Sherpa, believes that the likelihood of BTC prices reaching $40000 is the same as falling to $20000.
Analysts have observed the trend pattern of star cryptocurrencies since the beginning of this year, reaching lower highs near or near the 200 day moving average. The price always rebounds, so there is a great chance of a bullish rise. It is worth noting that the price of Bitcoin has not yet been announced, which confirms the bullish view. Unfortunately, prices are currently experiencing extreme compression, which can be considered a higher low point.
Therefore, analysts believe that the next higher peak may be crucial as it may determine whether Bitcoin prices will rise above $40000 or fall back to $20000. However, the market structure continues to remain bullish, which may maintain optimistic sentiment in the market.
The next high point will tell us whether to reach 40K or 20KIMO. We may use these 1DEMA for some higher compression. Technically, the market structure is still bullish
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