Though main resistance levels persist, Bitcoin is still subject to market volatility as bulls acquire strength. If Bitcoin recovers the important $60,000 mark, crypto researcher Captain Faibik projects it might reach $68,000 before the end of the month.
He underlined that Bitcoin needs a daily closing above this level if it is to climb toward new highs before December. Faibik also observed a possible Broadening Wedge pattern breakout that would drive Bitcoin’s price by the end of Q4 to lie between $88,000 and $90,000.
Bitcoin Faces Possible Bullish Breakout
Usually indicating increasing volatility, this pattern may also signify either a reversal or a continuance depending on market momentum. As Faibik projects, a breakout might represent a notable positive run. Fellow crypto expert Willy Woo, meantime, offered his viewpoint, characterizing Bitcoin as in a “re-accumulation” phase instead of a negative market.
Though Woo predicts a positive movement in one to three weeks, he adds more time is required to top past all-time highs. Though the indications remain “unconfirmed,” he observed that recent weeks hint a probable reversal while BTC demand and supply signals have been bearish since the April halved.
Woo also noted how macroeconomic events can affect the direction of BTC. He underlined declining bond rates, which historically indicated financial market collapses like those of the 2008 financial crisis and the COVID-19 epidemic in 2020. Should a similar trend develop, BTC might gain from a larger liquidity surge even if temporary dips are still probable.
