Wyckoff model suggests Bitcoin may retest $100K peak

In 2024, the Wyckoff model indicated a significant upsurge for Bitcoin. Specifically, it predicted a bullish run that propelled Bitcoin’s price from $53,400 to $74,000, a spectacular 40% jump. Given the model’s past accuracy, there’s speculation that history might repeat itself, leading to a retest of the elusive $100k mark.

Bitcoin charts are notoriously chaotic. Still, the Wyckoff model offers a sense of guidance and structure, acting as a treasure map amidst all the uncertainty. Despite the voices of skeptics hinting at the top of the market, evidence suggests there may be momentum left for Bitcoin. There is a growing belief, especially among savvy decentralized finance enthusiasts, that claiming a peak prematurely may be too pessimistic.

Comprehending the Wyckoff model implies that it is not time to consign Bitcoin to obsolescence. On the contrary, Bitcoin could be warming up for yet another rally towards the six-figure target. There’s a collective expectation among cryptocurrency enthusiasts for a mega-rally that may allow Bitcoin to repeat its past and try the $100K mark once again.

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