BTC Primed to Surge to $85K Based on Wyckoff Pattern Analysis
CryptoNewsTerminal Staff06 Jun, 2024
BTC Primed to Surge to $85K Based on Wyckoff Pattern Analysis
Crypto trader Mikybull Crypto predicts a potential surge in Bitcoin (BTC) price to $85,000 based on the Wyckoff pattern, a technical analysis tool used to anticipate price movements. The pattern suggests that the cryptocurrency has entered a bullish phase. However, another crypto trader, Rekt Capital, emphasizes the importance of a weekly close above $71.3k as confirmation of an uptrend. This indicates a shifting sentiment in the market and potential for further gains. The Wyckoff pattern has been used successfully in the past to identify significant price swings in BTC. If the pattern holds true, it could potentially drive the cryptocurrency to new all-time highs. However, it's essential to note that even with technical analysis, price movements can be unpredictable, and investors should proceed with caution.
