Bitcoin continues to show volatility, with bullish momentum building. A critical resistance level of $60,000 remains a challenge. Renowned analyst Captain Faibik forecasts a potential price of $68,000 by the end of this month if Bitcoin can reclaim the $60,000 level with a daily candle close above it.
Faibik also sees the potential for a Broadening Wedge pattern breakout, which could push Bitcoin’s price between $88,000 and $90,000 by the end of Q4, marking a significant bullish run. The Broadening Wedge pattern often signals increasing volatility and a possible reversal or continuation depending on market momentum.
Another analyst, Willy Woo, shares a short to macro term outlook, noting that Bitcoin is in a 're-accumulation' phase, indicating consolidation before a potential move to new all-time highs. Woo suggests that short-term bullish swings could occur within 1-3 weeks, but more time is needed for ultimate highs.
Woo also mentioned that macroeconomic conditions, like dropping bond rates, could impact Bitcoin’s price. Historical precedents show that falling bond rates can precede crashes followed by liquidity rallies, benefiting Bitcoin.
