Bitcoin's 'God Candle' Incoming, Says Top Trader Predicting Major Rally

The analyst expects a "god candle" – crypto slang for a massive price spike. This would result in a large green candlestick on price charts.

Bluntz suggests Bitcoin may have bottomed out earlier this month. The price dipped below $55,000, but buyers stepped in, and what analysts call a 'resistance' was as strong as any crypto bull would be dreaming about.

A hammer candlestick pattern on the monthly chart caught the analyst's eye. "I know there are still [15] days to go but damn that monthly BTC candle is straight fire," he commented.

This pattern often indicates a potential trend reversal after a downward move.

Crypto analytics firm Santiment noted increased market activity over the weekend. They linked it to former President Trump surviving an assassination attempt at a Pennsylvania rally, but some analysts thinks it might have started even earlier than that.

The incident seemingly jolted Bitcoin and other cryptocurrencies out of their slumber.

With stocks on a tear, all eyes are now on Bitcoin. Traders are watching to see if it can match or surpass the equities rally.

Alexey Bondarev is the Head of Content at Yellow.com, having reported on crypto for the last 10 years. He specializes in in-depth Research and Learn pieces, with a focus on analytical reporting, industry context, and the bigger forces shaping crypto, from the AI era and security technologies to fintech innovation. He believes that everything digital will imminently overcome everything analogue and is working hard to make that come true.