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A popular analyst addressed the current situation and noted that the most recent opportunity was observed when BTC reached the 20,000 dollar levels. Three other analysts also shared their current BTC predictions. Bitcoin 
$110,265 is on the verge of a significant breakthrough, and the more viewpoints we examine from different analysts, the more diverse perspectives we can obtain regarding the current state. This greatly aids in strategy formulation.
Has the Downtrend for Bitcoin Ended?
According to a recent chart shared by Theo, the downtrend has ended. The major signal indicating the end of the decline comes from the MACD crossover. The analyst, who claims this upward signal marks one of the largest buying opportunities, is confident in his assessment. Theo shared the following graph:
“For the first time in seven months, a weekly MACD crossover is about to occur. This will be the largest buying signal since the low of 20,000 dollars.”
Crypto Bullet, in a chart shared today, mentioned that the ABC correction has ended and the turn has begun from the ultimate low level.
“I surpassed my ultimate low for the ABC correction at 57,000 dollars (surprisingly short C wave) and, as I expected, it has risen (blue arrow).”
The Rise of Cryptocurrency
Rager, the third analyst, previously anticipated deeper lows. His predictions before the recent visit to 59,000 dollars were largely accurate, as few analysts could foresee this decline. In today’s assessment, Rager noted that higher levels might be tested, but first, we may see a return reminiscent of dull days.
If such an event occurs, it would not bode well for altcoins, as gradual and weak increases often result in significant losses during surprise declines. Altcoins can easily give back their gains. A potential drop is expected to maintain the midline.
Cryptocurrency investors are now questioning when Uptober will begin. The recent rise resembles the Uptober narrative, bringing faint smiles to faces.
Mister Crypto mentioned that October has just begun. Therefore, we might see more in the coming days.
