Bitcoin Closes In On $70,000: Is This The Rally To A New All-Time High?
Posted On October 28, 2024
Key Bitcoin (CRYPTO: BTC) indicators suggest the apex crypto could be on the verge of a significant rally as a veteran analyst downplays the influence of the presidential election on Bitcoin’s trajectory.
What Happened: Bitcoin could be set for another rally, according to crypto analyst Caleb Franzen, who observed a sharp shift in a momentum indicator used by traders to gauge buy and sell signals.
This shift from oversold to overbought territory over a 16-week period has previously led to Bitcoin price gains of 52% and 113%, suggesting bullish potential if history repeats.
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