The crypto analyst, known as Ash Crypto, recently noted a development in the Bitcoin market. He noted that the 1-week MACD crossover for Bitcoin has formed a successful crossover above the zero line.
This same pattern was observed in October of the previous year, which preceded a 140% increase in Bitcoin’s price.
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The analyst poses a question: could we be witnessing similar growth once again?
BTC Price Continuation Following Breakout
In addition to this technical indicator, Bitcoin’s price has shown positive momentum today after effectively retesting a breakout from a descending channel. This breakout occurred eight days ago, and since then, Bitcoin has been consolidating around this level.
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With a weekly close above the channel confirming this breakout as a new support level, the price has begun to rise today.
The upward movement could signal the start of a more extended rally for Bitcoin, echoing the patterns seen in the past.
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