The Bitcoin price action showcased typical volatility, recently completing a retest of a downward trendline. Analyst EGRAG CRYPTO stresses the importance of a weekly body closure for further price gains, potentially reaching $110,000 by December.
The digital currency broke through a resistance trendline in October, climbing from $66,900 to $73,540 within two days, signaling a successful breakout. This breakout, viewed on a broader timeframe, hints at a sustained bullish trend.
Having broken above $47,000 in February, Bitcoin's price journey—rising to $73,737 in March and dipping to $49,800 in August—illustrates a robust breakout and retest pattern.
Analyst EGRAG predicts Bitcoin's price could rise between $90,000 to $110,000. Despite a slight dip to $68,500, optimism remains, with a significant weekly closure essential to push the price further up.
