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Bitcoin will hit $45k soon, says a crypto analyst

Bitcoin will hit $45k soon says a crypto analyst

After navigating through a challenging two weeks marked by a significant 21% price dip, Bitcoin (BTC) staged an impressive comeback, concluding the last week on a positive note.

The flagship crypto’s strong performance resulted in the formation of a Doji Hammer candle on the weekly chart, indicating a possible bullish reversal.

This resurgence has successfully pushed Bitcoin’s price back into its previous trading range of $41,300 to $45,000.

Keith Alan, co-founder of Material Indicators, emphasized the importance of this pattern, suggesting, “Looks like we have a Doji Hammer candle forming on the BTC Weekly chart. That typically indicates a bullish reversal is coming. […] If we do indeed print a Hammer, Bitcoin bulls will need to overcome resistance at the bottom range of the Golden Pocket to have a chance at a meaningful move to retest the $44k–$45k range.”

However, the crypto market is currently bracing for the impact of the first Federal Open Market Committee (FOMC) meeting in 2024. Bitcoin dropped below $42,300 at the writing time.

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Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.