Bitcoin is currently trading at approximately $95,300, aligning with Jesse Livermore's "accumulation cylinder" pattern, which suggests a potential vertical breakout. This pattern, known for its stages of accumulation, breakout, and vertical ascent, has historically preceded significant bull runs in various markets. Bitcoin's recent price movements mirror this pattern, indicating a possible surge to $150,000-$200,000 if it breaks the $100,000 resistance level.
The pattern's "widening mouth" aspect, characterized by increasing volatility, suggests that Bitcoin is entering the "vertical phase," driven by fear of missing out (FOMO) and institutional inflows. While community sentiment is mixed, with some expressing skepticism, the overall outlook remains bullish. Traders are advised to monitor volume spikes and trendline breaks as potential confirmation of the breakout.
Bitcoin Poised for Vertical Surge Following Livermore's Accumulation Pattern
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