TechDev's analysis suggests Bitcoin may see a strong price rally in October 2024. Currently, Bitcoin is holding around $60,000, with positive predictions from market analysts. Historically, Bitcoin tends to rise after halving events, with a breakout typically occurring 150-160 days later. Despite Bitcoin's average return of -4.48% in September, October has historically seen gains, with an average return of +22.9%.


TechDev notes that Bitcoin's ABC correction pattern has likely ended, signaling the end of the downtrend. Bitcoin's RSI shows signs of recovery, and TechDev predicts the potential for Bitcoin to reach $92,000, driven by global liquidity increases and the effects of the halving.
Investors are watching the Federal Reserve's interest rate decision, which could further boost Bitcoin’s price if a significant rate cut is announced. Bitcoin is currently trading at $59,994, with key resistance at $60,583 and support at $58,325. If Bitcoin surpasses $60,583, it could rise to $62,100, reinforcing its upward trend.
4o
BTC1.34%
STRONG1.79%
RLY-1%
BCH1.75%
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