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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Apr 22, 2024 07:05 UTC
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Bitcoin Price Poise For Major BreakOut, Top Analyst Aims For $86k
Captain Faibik predicts BTC could reach $86,000 with potential upside breakout.
Crypto Analyst identifies Bitcoin's breakout from ascending triangle pattern, indicating bullish momentum.
Bitcoin currently trades at $66,400, showing a 1.9% increase in the last 24 hours.
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.
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