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<a href="https://xpertsstudio.com/i-think-ishares-bitcoin-trust-ibit-is-the-best-bitcoin-etf-to-buy-right-now/” title=”I Think iShares Bitcoin Trust (IBIT) Is the Best Bitcoin ETF to Buy Right Now”>Bitcoin(CRYPTO: BTC) is up 5% to $81,000 on Thursday, blowing through the levels where analysts flagged a bearish Bart Simpson pattern one day earlier.
What the Pattern Was Supposed to Do
As Benzinga reported Wednesday, analysts flagged a classic three-phase Bart Simpson setup forming across Bitcoin and XRP after August’s sharp rally.
Bitcoin had spiked from $64,420 to nearly $80,700, then stalled in a flat range, with the final phase supposed to be a sharp snap back lower.
XRP traced the same shape, climbing from $1 to $1.52 before drifting to $1.32.
Quantum Economics founder Mati Greenspan said a true completion required a 20% pullback, while New Market Trading CEO Frank Hepworth projected Bitcoin falling to $70,000 or even $58,000 if selling accelerated.
What Actually Happened
Fed Governor Christopher Waller told a Reuters NEXT interview Thursday that he is willing to support holding rates steady at the Sep. 15 meeting if inflation continues to cool.
The 10-year Treasury yield dropped to 4.75% from 4.82% the prior day, removing one of the key headwinds that had been pressuring risk assets all week.
Bitcoin responded immediately, pushing towards $82,000 and clearing resistance that had capped the rally all week.
Meanwhile, XRP(CRYPTO: XRP) broke out of the descending triangle that compressed price for two weeks, confirming a trend reversal.
Both assets now show RSI readings above 72, pointing to genuine momentum rather than a low-volume bounce.
What Crypto Twitter Made of It
The reaction on X was swift. One user replied to a chart post asking why Bitcoin was above $80,000 with: “I don’t know, my favorite influencer showed me a Bart Simpson pattern yesterday.”
Another noted that while the broader timeline was filled with bullish calls, only one analyst had posted the Bart Simpson setup, and the market promptly moved the other way.
Key Levels to Watch for BTC and XRP
Bitcoin:
- $82,207 — resistance above, close through this opens a bigger move
- $76,983 — first support on any pullback
- $1.50 — next resistance level to clear
- $1.38 — support on any dip, key level to hold
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Source: www.benzinga.com
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