The rejection of lower prices after the climactic drop in early August assuaged trades. Despite the welcomed recovery, Bitcoin bulls are yet to build on the momentum and break above the local resistance levels. Even so, traders are optimistic, expecting buyers to take charge and resume the uptrend set in motion in Q1 2024. In their forecasts, more analysts think any breakout above $72,000 and July highs could spark a wave of demand that may see Bitcoin record fresh all-time highs above $73,800. Bitcoin Breaking To All-Time Highs Will Take Time Taking to X, one trader, pointing to Bitcoin’s historical price cycles, is convinced that there are two more phases to go before the coin breaks an all-time high and registers fresh all-time highs. In the past, all cycles tops–from the RSI Bollinger Band % Phases indicator, the analyst continued, tend to print out on the fifth move. So far, only three of these five cycles have been completed. Related Reading: Algorand Achieves New Record With 2 Billion Transactions, ALGO Price Jumps 14% Judging from the current state of pric ..
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