- Bitcoin price falls to $69,000 price range after almost reclaiming its previous ATH price.
- Altcoins continue to remain bullish despite BTCs recent dip.
- WIF memecoin shows a strong bullish breakout indicator.
Bitcoin recently dropped from its sideways movement around $73,000 to a higher low of $69,000 as it makes another attempt to reach its previous ATH of $73,700. While some traders express frustration over the dip, seasoned traders see Bitcoin’s pattern of higher lows and highs as a sign of strength, suggesting it’s edging closer to past records.
Despite this pullback, analysts widely anticipate a significant breakout for Bitcoin in the months ahead, with many expecting BTC to reach new highs in Q4. Forecasts place Bitcoin’s potential high in this quarter between $100,000 and $150,000. The optimistic outlook also extends to altcoins, with some analysts projecting a bull cycle peak for BTC between $220,000 and $550,000.
Altseason at the Doorstep?
While expectations for new BTC ATHs continue to grow, so do the expectations for new ATHs for altcoins. As we can see from the post above, altseason is expected to begin in November and should continue to pump till March 2025. In detail, BTC is expected to set new ATHs in Q4 of 2024 which should lead to a bullish altseason in 2025.
WIF Prepares for Major Bullish Breakout
Supporting this bullish altseason expectation are the price charts of many popular altcoins like SHIB, ADA, DOGE, and XRP. These assets in particular are printing many bullish signs on this charts while other altcoins have already begun to pump like FET, JUP, and SUI. Another altcoin showing bullish indicators is dogwifhat (WIF).
https://x.com/ali_charts/status/1851894232539423163
As depicted in the chart above, this analyst believes the price of WIF will pump soon. To specify, WIF price is facing a bullish breakout pattern that will lead to a bullish $3 high. Once this price is reclaimed, WIF could go on to set greater ATHs if it continues to hold support.
