Price Analysis View Non-AMP

Bitcoin Bulls Gearing Up for ‘Uptober’- $100,000 is Coming for BTC Price in 2024!

Published by
Sahana Vibhute

The crypto markets are very close to the last quarter, Q4, and historically, this quarter shows the highest returns for Bitcoin. The price managed to reclaim the 100MA, while the 200MA offers strong resistance. Therefore, the BTC price is demonstrating a huge possibility of a bullish continuation, probably above $65,000, which is believed to break the market structure. Therefore, Q4 is looking to be the most profitable quarter for the Bitcoin price rally, which has historically incurred over 100% gains. 

Will the BTC price hit $100K in Q4 2024?

Ever since the Fed rate cuts, the trade has flipped in bullish favour. With this, the markets began to display some momentum, resulting in a decent net flow of the Bitcoin ETFs. Secondly, the long-term holders who liquidated their holdings while the BTC price rallied in March have begun to accumulate, which has intensified since the start of the month. Besides, the US Presidential elections are on the horizon, which has had a huge impact on the crypto markets, specifically on the BTC price. 

Now that the price has plunged below $63,800, is this another Monday dump after Sunday Pump?

The short-term BTC trade suggests the price has completed a ‘v-shaped’ recovery after hitting the neckline above $64,000. Unfortunately, the price is facing bearish action, causing the token to head towards the interim support at $63,500. A rebound is unlikely at these levels, as the bullish momentum needs more rework with a rise in volume. Besides, the stochastic RSI is gearing for a bearish crossover. All these indicators suggest the price may face a minor pullback and reach the support zone between $62,700 and $62,500. 

Regardless of the short-term price variations and a consolidated trading volume, the long-term price actions remain largely bullish. The token remains stuck within an expanding megaphone in the long term, and hence, after a brief consolidation, a move to $68,000 seems imminent later this week. Therefore, one of the popular analysts, Captain Faibik, believes that the BTC price may undergo a broadening wedge breakout to the upside in October and reach $90,000. 

“BTC could test the crucial 68k resistance level later this week. 

In early October, I’m Expecting a Broadening Wedge breakout to the upside, and Bitcoin could reach $88-90K by the end of December,”

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Shiba Inu (SHIB) Price Forecast Today

SHIB price has potentially broken out of a YTD falling channel in the past few…

April 24, 2025

Arbitrum (ARB) Price Analysis: Dead Cat Bounce or Full Blown Recovery Next?

ARB price has followed a similar fractal pattern to the September 2024 bullish breakout. The…

April 24, 2025

Should You Buy More TRUMP to Have Dinner With President Trump? Will the TRUMP Price Sustain Above the Gains?

Soon after the launch, the OFFICIAL TRUMP (TRUMP) price experienced a huge pullback that has…

April 24, 2025

Whales Turn Active After Ethereum’s Strong Recovery: What’s Next for ETH Price?

Ethereum's price has jumped after being stuck in a slump for several weeks, helping it…

April 24, 2025

WIF, BONK & FLOKI Prices Attract Massive Gains—Has the Memecoin Mania Begun?

The memecoins have begun to rise as Bitcoin displays massive stability after the recent upswing.…

April 23, 2025

President Donald Trump to Hold an Exclusive Dinner For Top 220 $TRUMP Token Holders on May 22

The top 220 $TRUMP holders by May 12 will be eligible for the Gala dinner…

April 23, 2025