Bitcoin (BTC) Price Prediction: Analysts See a Potential 30% Rally by the End of the Year

Bitcoin (BTC) Price Prediction: Analysts See a Potential 30% Rally by the End of the Year, with a Midterm Target of $88,000 if the Breakout Holds.

Bitcoin price today: BTC shows bullish signs after breaking out of a descending wedge pattern recently, according to Captain Faibik’s technical analysis.

Bitcoin price prediction: Analysts predict a potential 30% rally for Bitcoin by the end of the year, with a midterm target of $88,000 if the breakout holds.

Bitcoin market price is currently at $68,697.16. A recent post by crypto expert Captain Faibik on X reveals that the market recently broke above a descending wedge pattern on the weekly chart and is currently retesting the breakout. Let’s see what insights we can gather from this. Ready? Dive in!

Bitcoin price prediction

The market entered a Descending Wedge pattern in late February and broke above it in mid-October. During this period, the market experienced a 8.699% price change. A long bullish candlestick was formed in the second week of October, and this bullish momentum helped the market break above the pattern.

As the expert highlights, the BTC market is now retesting the breakout, which is a crucial stage. If the market can sustain this phase by remaining above the breakout line, it could gain further strength to continue its ascent.

BTC price predicted to rally 30% by November-December

$BTC Descending broadening Wedge Breakout is already confirmed & Retest is in play on the Weekly timeframe Chart.

After Successful Retest, Expecting 30% Bullish Rally in Nov-Dec..?

Midterm Target : 88k

#Crypto #Bitcoin #BTC #BTCUSDT pic.twitter.com/xkUeqMUc9X

The expert predicts that the Bitcoin market will experience a 30% bullish rally between November and December, and he even suggests a midterm target of $88,000.

Bitcoin has seen a 10.8% surge over the last 30 days. On October 10, the BTC price was $60,327.61. Between October 11 and 29, the market recorded a 20.65% growth. On October 29, the market reached a monthly high of $72,748.48. Since then, the price has dropped by 5.67%. In the last seven days, the market has seen a 3.4% decline.

In conclusion, Captain Faibik’s technical analysis bodes well for Bitcoin as the year ends, aligning with the broader Bitcoin price prediction for the coming months.

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