After a substantial cost rise of over 7% on August 23, 2024, the Bitcoin (BTC) rate hasactually been moving in a tight variety. In this continuous combination, justrecently a crypto specialist made a post on X (Previously Twitter) specifying that if Bitcoin rate comes to the $61,500 level, it would be an supreme chance to buy the dip.
$61,500 Level Ultimate Buying Opportunity
The factor behind this post on X is the current breakout from the bullish rising triangle rate action pattern. Since the breakout, the BTC rate has not yet been retested at the $61,500 level. If BTC does retest that level, there is a high possibility it might skyrocket substantially in the coming days.
Bitcoin Price Prediction
According to specialist technical analysis, BTC looks bullish as it is trading above the 200 Exponential Moving Average (EMA) on a day-to-day time frame and the current breakout. When an property trades above the 200 EMA, it suggests that the property is in an uptrend.
The Bitcoin cost hasactually been combining within a tight variety inbetween $63,500 and $64,500 levels for the last 3 days. As of now, there are 2 possibilities: if BTC falls listedbelow the $63,500 level, it might experience a 2.5% cost drop and might retest the breakout level. On the other hand, if BTC breaks the $64,500 level, there is a high possibility it might skyrocket by 5% to the $67,500 level.
However, purchasing BTC at the retest level might deal a lower entry cost, a tighter stop-loss, and a greater likelihood of a effective break