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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Bitcoin Breakout Alert: Research Company Head Shares Key Timeline

Christian Encila
Christian Encila
3 months ago
2 mins read
Bitcoin

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Created by industry experts and meticulously reviewed
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Este artículo también está disponible en español.

The chief research analyst at 10x Research, Markus Thielen, thinks Bitcoin has a bright future. If Thielen’s crystal ball is correct, the digital asset might potentially experience significant price swings on January 29, 2025, once it breaks out of its so-called “symmetrical triangle” formation.

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However, the path to this breakout is fraught with variables that could sway Bitcoin’s trajectory in any direction.

Breaking Down The Technicals

Bitcoin has been trading in a symmetrical triangular pattern for quite some time. These patterns typically signify consolidation, implying that the market is gearing up for a major move.

Thielen sees this as a possibility for a breakout, which might push Bitcoin over its resistance levels. However, he adds that there is no assurance. The breakout may happen either way.

Bitcoin chart shows the symmetrical triangle pattern. Source: 10x Research

Inflation And Fed Decisions Affect Bitcoin

A breakout may not be fully based on technical analysis. Thielen notes that inflation data and Federal Reserve interest rate decisions will have a significant impact on Bitcoin’s future price behavior.

If inflation remains high and the Fed continues to raise interest rates, the market’s risk appetite may decline, impeding Bitcoin’s growth. Alternatively, if economic conditions improve, Bitcoin may skyrocket.

BTCUSD trading at $99,197 on the daily chart: TradingView.com

Timeline For Breakout

Thielen speculates that Bitcoin will break out on January 29, 2025. If this schedule is accurate, we could witness a huge movement in the market. However, time, like all predictions, is subject to uncertainty.

Thielen, meanwhile, alluded to a bullish break and the ensuing Bitcoin surge. Growing anticipation of increased Consumer Price Index (CPI) numbers served as the foundation for the market expert’s claim.

The market may take longer to break through or face unexpected volatility, which alters the present trend. Investors should be cautious because the breakout could happen sooner or later than planned based on market conditions.

The Uncertainty Factor

While many analysts have a bright outlook, Thielen warns on prudence. Bitcoin’s price is famously volatile, with the possibility of huge volatility remaining. Investors should be aware that Bitcoin can encounter obstacles that restrict its breakout potential even with the positive technical patterns. Navigating this unpredictable terrain will depend much on risk management.

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Bitcoin In The Green Today

Bitcoin was trading at $99,197, up 2.3% and 4.1% in the daily and weekly timeframes when this report was made.

Featured image from Techopedia, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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