Analyst Predicts Bullish Bitcoin Price Rally To $41,000, Here’s When
October 23 2023 - 9:00AM
NEWSBTC
The Bitcoin price went over $30,000 over the weekend to reach its
highest point since mid-July. As part of this recent rally, crypto
trader Carl From The Moon has shared his Bitcoin analysis,
predicting the cryptocurrency is poised for a massive 37% rally
that could send the price up to $41,000. Analyst Carl From The Moon
Predicts Bitcoin Price Rally Bitcoin has been subject to many price
predictions in recent months, particularly as the industry awaits
the approval of applications for a spot Bitcoin ETF. Subsequently,
Carl Runefelt, also known as Carl From The Moon, based his
long-term analysis on a bullish run if these applications were
approved. Related Reading: Crypto Analyst Points Out Bitcoin
Sell Signal That Could Be Triggered Today In a new YouTube video,
Carl points out that Bitcoin’s price action has just completed a
diamond pattern, and a big breakout move to the upside is imminent
in the next 30 days. TRADE ALERT: #Bitcoin diamond pattern.
Target: $41,000 within 30 days. More info here:
https://t.co/4uX3lL9Sf8 pic.twitter.com/2ABJo5fYiu — Carl From The
Moon (@TheMoonCarl) October 22, 2023 Carl sees a few factors
indicating Bitcoin is ready to soar. First, the crypto formed an
upside movement at the beginning of the year. Subsequently, a
diamond pattern began to form around April on the weekly timescale.
Now, Bitcoin is in a prime position to clear the $31,000 resistance
level, which would surge the cryptocurrency 37% from its current
price of around $30,000 up to $41,000. “What we can see now is a
massive, massive diamond pattern on the weekly timeframe. And if
Bitcoin breaks up like this, then we could see Bitcoin go all the
way up to $41,000, which would be absolutely insane, right?” Carl
said. For now, Carl remains extremely bullish. Aside from his
prediction, Carl also reflected on the current general sentiment of
most Bitcoin traders for the near future. He does this by showing
his leveraged long positions on different crypto exchanges while
planning to add more when a spot Bitcoin ETF is approved.
“Any day now, the ETF will come out, and then we will wish that we
had these long positions open,” the crypto analyst said. Carl isn’t
the only analyst predicting high Bitcoin prices based on the
approval of Bitcoin ETFs. Several other experts also think Bitcoin
will spike in the coming months, with some giving higher price
targets than others. Related Reading: New SHIB-Based Token On
The Way? Shiba Inu Team Member Shares Important Update For example,
crypto analyst Mags on social media platform X predicted a $70,000
price tag is foreseeable. A more optimistic prediction came from
Ark Invest CEO Cathie Woods, who predicted $1.48 million for each
Bitcoin based on increasing mainstream adoption. At the time of
writing, Bitcoin is trading at $30,522, up by 9.86% in a 7-day
timeframe. Most signs point to higher prices ahead, and many retail
investors and heavyweights alike look to position themselves.
Crypto whale transaction tracker Whale Alerts also recently
revealed a massive 1,087 BTC withdrawal from crypto exchange
Binance.US to a private wallet, suggesting there’s accumulation
taking place. 🚨 🚨 1,087 #BTC (32,531,932 USD) transferred from
#BinanceUS to unknown wallethttps://t.co/NsHxbV0TGS — Whale Alert
(@whale_alert) October 23, 2023 BTC finds support at $30,500 |
Source: BTCUSD on Tradingview.com Featured image from Analytics
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