The post Doji Formation On Bitcoin Chart Suggests 2 Months Of Upside appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. The Bitcoin price looks set to enjoy a bullish reversal in January next year, having maintained a tepid price action to close out this year. This bullish outlook for the flagship crypto came as crypto analyst Tony Severino revealed a potential Doji formation, which suggested that BTC could enjoy this uptrend in the new year. Related Reading Doji Formation Could Lead To New Year Bitcoin Price Rally In an X post, Severino suggested that a Doji formation could lead to a Bitcoin price rally in the first two months of the new year. The analyst mentioned that he suspects BTC will end December with the Doji and then January shows a strong continuation for the flagship crypto. His accompanying chart showed that this strong continuation could extend into February.  The crypto analyst explained that a Doji represents a pause in the market due to indecision from buyers and sellers. He added that the following candlestick shows market participants the decision the market has made through strong continuation or a reversal. In this case, Severino expects that the following candlestick will show a strong continuation for the Bitcoin price.  Severino noted that a similar Doji at similar subwaves each resulted in two more months of upside before a local top was in for the Bitcoin price. Therefore, the crypto could enjoy two months of upside between January and February 2025 if history repeats itself. From a fundamental perspective, Donald Trump’s inauguration is one factor that could spark this strong continuation.  BTCUSD currently trading at $94,571. Chart: TradingView The BTC price rallied above $100,000 after Trump’s victory in the November US presidential elections. As such, the flagship crypto could continue this rally as Trump becomes the first pro-crypto US president. Moreover, the US president-elect may…

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Filed under: News - @ December 29, 2024 6:06 am