- Bitcoin reclaims $118,000 igniting bullish sentiment.
- Analysts expect major breakout for BTC and ETH.
- New ATH targets could be met for the crypto market this Q4.
The crypto market seems to be experiencing an impressive price recovery phase. Presently, the price of Bitcoin (BTC) the pioneer crypto asset has reclaimed the $118,000 price range and is close to retaking the $119,000 price range. Similarly, the price of ETH is up to the $4,300 price range, also showing strong signs of a pump soon. Presently, analysts expect major breakout for BTC and ETH prices.
Analysts Expect Major Breakout for BTC and ETH
As the crypto market enters the final Q4 phase of the ongoing year, expectations for a spectacular price pump towards new ATH prices for both ETH and BTC are on the rise . In the previous two months, the price of both the pioneer crypto asset and the pioneer altcoin asset, BTC and ETH respectively, went on to set their current ATH prices in the $124,000 and $4,900 price rnages respectively.
Analysts then expected new ATH prices to follow for both BTC and ETH , but instead the crypto market went on to experience steep price dips, where the price of BTC fell as far as the $108,000 price range and the price of ETH fell to just below the $4,000 price range. While analyst saw this move as a usual pattern since September is usually when both assets face corrections, others expected much steeper price drops.
To the delight of many analysts, the month of September saw a rally allowing the crypto market to close in a bullish green and igniting highly bullish expectations foro Q4. Already Q4 was expected to see bullish price pumps, but now, this sentiment has grown even stronger. Presently, both BTC and ETH are showing highly bullish signals and as we can see from the post above, this analyst believes ETH will see a much greater pump over BTC.
Bitcoin Reclaims $118,000 Price Target
At the moment, most traders and analysts are pleased to have seen this ongoing rally. As the post above says, BTC saw a great start of the month of October by reclaiming the $117,000 price range. He also states that the breakout above the $112,000 price target in September was crucial. Since then, BTC has had a slight pushback to retest that level and now it’s shooting towards a new all-time high.
The post above also adds that Bitcoin is breaking out after a fakeout. This analyst sees a triangle formation and sees that BTC has broken out of it. Now, the analyst says either a bullish move or could possibly be another manipulation tactic from market markets. Will BTC go on to set a new ATH in the coming weeks and months ahead. Target for now is set between the $140,000 and $145,000 price range.
