Bitcoin, the world’s largest cryptocurrency by market capitalization, has recently surpassed one of the largest consolidations and is now prepared for a significant upside rally. On October 18, 2024, the cryptocurrency broke out from the large descending channel pattern it had been following since March 2024.
This breakout, combined with the strong bullish sentiment among traders, indicates a possible price target of $72,000 and the potential for a new all-time high in the coming days. As of October 18, the Long/Short ratio stands at 1.19, suggesting a strong bullish sentiment among market participants.
