- Bitcoin price chart primed for a big breakout upwards.
- Analysts bullish over current BTC price action.
- One final new BTC ATH expected before altseason takes over.
The price of Bitcoin (BTC) has been on the rise in the final days of Q3, raising hopes for the month of September to close in a bullish green state as opposed to the initial bearish red expectations. At the moment, Bitcoin price chart primed for a big breakout upwards , and analysts are bullish over the current price action on the BTC price chart. This, in turn, shows strong promise for Bitcoin to hit new ATH targets in Q4.
Bitcoin Price Chart Primed for a Big Breakout Upwards
Q3 has been an interesting one this bull cycle, with the prices of both the pioneer crypto asset, Bitcoin (BTC), and the pioneer altcoin asset, Ethereum (ETH), hitting new ATH prices in August. While BTC set its most recent ATH at the $124,000 price range, Ethereum set its first ATH yet this bull cycle at the $4,900 price range, just above its previous ATH price set in the $4,800 price range 4 years ago, and short of the $5,000 bull target.
Following this, the crypto market faced a short correction phase that sent both BTC and ETH prices tumbling below their price discovery phases. With Q4 set to close, analysts are debating over the possibility of BTC surging to set one more new ATH price at the $140,000 price range , before handing over dominance to Ethereum and altcoins as the bull cycle has yet to see its peak altseason phase.
Presently, analysts are certain that the crypto market will close September in a bullish green state as opposed to the earlier expectations for September to close in a bearish red state. Despite some analysts still calling for much deeper dips, other analysts see many bullish indicators across multiple factors that point to a very bullish price breakout for BTC that could lead to new ATH prices.
As we can see from the post above, this reputed crypto analyst says that the Bitcoin price chart is looking great as it is holding above the 20-Week MA after a corrective week and has started the new week with a strong upwards bounce. The analyst believes that we have already seen the correction’s low and that the price of Bitcoin (BTC) is now primed for a big breakout upwards.
Analysts Bullish Over Current Price Action
At the same time, another reputed crypto analyst has also noticed another bullish sign for the price of the pioneer crypto asset, Bitcoin (BTC). He says that Bitcoin is currently undergoing a retest and that the last time Bitcoin pulled a double retest like this, it was just before Q4 of 2023, when the price of BTC ended up rallying over 185% in the months that followed and that a similar move may be in the works at the moment.
