Bitcoin’s Price Surge Fuels Optimism Among Traders: Cheds Sees Potential Breakout

Recent analysis by crypto strategist Cheds suggests that Bitcoin’s price trajectory may remain bullish, potentially exceeding $4,500. Cheds previously predicted a decline below the $80,000 mark. The recent breakout of the Bitcoin price chart from a W formation on the four-hour chart indicates a potential positive reversal, according to Cheds. If Bitcoin can maintain its critical support zone between $78,500 and $81,000, it’s anticipated to reach even higher levels. Protecting this support area is considered vital for a positive market trajectory. Cheds further explains that achieving $81,000 again could pave the way for an upward trend once more.