Analyst Calls BTC Dip Perfectly, Expects Bitcoin Rally to Commence Soon as Bullish Indicators Support Pump
- Analyst predicts the latest Bitcoin price dip perfectly using 4-hour chart.
- He expects a rally for Bitcoin price to occur shortly, with room for minor dips.
- Crypto enthusiast highlights major bullish events that will support Q4’s bullish pump.
Bitcoin dips to $61,000 as Middle East war tensions intensify. While many analysts predicted a bullish Q4 with only new ATHs in store, one analyst saw this dip and predicted it perfectly. This analyst is CryptoBullet and he called the dip precisely using the BTC 4-hour chart.
Analyst Calls Latest BTC Dip Perfectly
In detail, CryptoBullet expected a correction for BTC that would take the price of the pioneer crypto asset to the $59,000-$60,000 price range. Bitcoin has already fallen from $66,000 to $63,000. While Doctor Profit called for a bounce at this level CryptoBullet’s prediction played out instead.
#BTC 4h update
My Downside Target (Blue Zone) is reached! ✅ 👌
We still can go a little lower, so don’t count on an immediate reversal (blue arrow)
I would like to see a bounce off this Horizontal Support and then we re-evaluate. pic.twitter.com/1BfavDVJYW
— CryptoBullet (@CryptoBullet1) October 1, 2024
This analyst expected a bounce after the $60,000 correction dip was met and it looks like this is the prediction that’s playing out now. CryptoBullet calls this dip a great opportunity for traders to load up on altcoins if there were any yet to be accumulated. This depicts a strong sign signaling that the rest of Q4 could likely be very bullish for the crypto market.
The analysts’ call for a rally after the dip seems to be in play. The perfectly called prediction draws more eyes to the analyst’s page where he has shared many accurate BTC and altcoin predictions so far. Presently for Bitcoin, the analyst says the downside target is reached, although he says the dip could sustain a little more before a reversal takes over.
He expects to call an immediate reversal possibility after a bounce off the horizontal support occurs. Reevaluating this move could determine when BTC will bounce and continue its rally towards setting new ATHs in the expected bullish continuity to Q4.
Bitcoin Enthusiast Highlights Major Bullish Indicators
You’re seriously going to panic sell your bags? Just as:
• The FED officially pivoted with a 50bps rate cut
• China is stimulating its economy
• Global liquidity is on the rise
• FTX distributions are beginning
• Q4 (crypto’s best qtr historically) has just begun
• The…— Miles Deutscher (@milesdeutscher) October 1, 2024
Despite this surety of a recovery, many traders seem to be victims of panic selling. In turn, one crypto enthusiast reminds traders of all the bullish indicators ahead. He highlights FED rate cuts, China stimulating its economy, global liquidity rising, FTX distributions beginning, Q4’s bullish promise, and the US Presidential elections being a month away.
