Top Analyst Predicts Bitcoin (BTC) Price Rally to Over $400K as Key Indicator Turns Bullish

Top Analyst Predicts Bitcoin (BTC) Price Rally to Over $400K as Key Indicator Turns Bullish

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  • October 30, 2024
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Bitcoin (BTC) price has seen a 10% rally in the last 5 days. It broke above the $72,000 crucial level on Tuesday.

With this, some traders might be thinking the price is already too high to buy. However, Ali provided a different and bullish perspective.

Also Read: How ‘Lucky’ Trader Made 64x Returns on This Solana (SOL) Memecoin

Ali’s post shows that Bitcoin price peaks between 1.618 and 2.272 Fibonacci retracement levels. If history is to repat, then we might see a peak between $174,000 and $462,000.

Furthermore, Ali points out that while entering the market at $72,000 might seem late, historical data tells a different story.

He notes that the MVRV Ratio crossing above its 365-day simple moving average has historically marked the beginning of major bull rallies.

This “golden cross” has just occurred again, reinforcing his bullish perspective on Bitcoin’s future price trajectory.

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