Bitcoin Price Prediction: BTC Pumps 9% In A Week, But Analysts Say This GameFi Gem Might Be The Next To Explode
The Bitcoin price dropped by a fraction of a percentage in the last 24 hours despite being up 9% in the last week to trade at $63,971 as of 00:42 a.m. EST on trading volume that dropped 8% to $19 billion.
This comes as a popular analyst on X (formerly Twitter), Rekt Capital, says that Bitcoin is currently aligning with historical post-halving price trends. The pseudonymous analyst offers a more optimistic perspective, noting that Bitcoin has the potential to return to its post-halving re-accumulation range.
Bitcoin Price Aims For A Continued Rally
In the last week, the Bitcoin price has been on an uptrend, as BTC recovered from a sideways pattern’s lower boundary to breach the pattern’s upper boundary on the $61,347 resistance, data from GeckoTerminal shows.
The price of Bitcoin now seems to be consolidating within the $64,000 range, as the bulls aim for a rally above.
BTC trades well above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart as well, which affirms the bullish trend.
Moreover, the Relative Strength Index (RSI) trades slightly below the overbought region, currently at 62, as it seems to be consolidating at this level.
If BTC bulls pick up buying at this level, the price could continue surging, as the bulls target $70,500.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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