Venture capitalist and crypto veteran Chris Burniske believes Bitcoin (BTC) could be just days away from a massive breakout.
Burniske say on social media platform X that Bitcoin could make an explosive move in November, suggestive that the monthly timeframe chart of the most important digital asset turns bullish.
“If BTC had ‘one of those candles’, November would be a good candidate month…
I mean… come on.”
Looking at its monthly chart, Bitcoin is trading above multiple simple and exponential moving averages, which have served as support in previous bull market cycles. In technical analysis, an asset trading above the moving averages is generally considered bullish, especially in the weekly and monthly time frames.
Referring to his phrase ‘one of those candles’, Burniske repost a tweet on He too predicts that Bitcoin is on the verge of a breakout that will attract greater market interest.
“After the breakaway is when we just ride, and all the new found bulls with momentum in their backs do all the bull posting.”
The analyst too say that the adoption of stablecoins has increased dramatically over the years, increasing the purchasing power of crypto market participants.
“People say crypto is just about chasing speculative 100xs. What about stablecoin adoption increasing 100x in the last five years?”
Bitcoin is trading at $71,138 at the time of writing, up 3.66% in the past 24 hours.
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Generated image: Midjourney