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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Analysis: The BTC price consolidation phase will soon come to an end, ushering in a price breakthrough
Odaily Planet Daily News Since BTC fell from its all-time high above $73,800, the BTC price has been fluctuating widely between $53,000 and $72,000. However, according to technical chart patterns and various indicators, the BTC consolidation may be coming to an end as the price may be on the verge of a breakout. Cryptocurrency analyst Rekt Capital stated that following a bullish weekly close on October 27th, BTC may be on the verge of breaking out of the consolidation phase. Historically, BTC has peaked between 518 and 550 days after the Halving. The analyst added that despite the long consolidation period after the Halving, "BTC still accelerates for about 35 days during this period." "Therefore, the longer the consolidation period after Halving, the better the current cycle will resynchronize with the traditional Halving cycle." The BTC Volatility indicator shows that expectations for a breakout in BTC price still exist.