比特币牛市预测
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Analyst: Bitcoin Will Rapidly Hit $118,000 After Breaking Historical High
Famous cryptocurrency analyst Willy Woo stated in a recent X tweet on May 21 that Bitcoin is at a critical juncture for breaking its historical high.
According to Woo's observations, once Bitcoin effectively breaks the previous high resistance level (around $109,000), it is very likely to usher in a rapid upward trend, targeting a price level directly at $118,000.
This judgment is primarily based on three key factors:
First, on-chain data shows that long-term holders continue to accumulate Bitcoin, leading to the exchange reserves dropping to their lowest level since 2018, significantly tightening market liquidity.
Second, institutional funds are accelerating their inflow into the market again, especially after a brief fluctuation, the net growth trend of spot ETF funds has re-emerged.
Finally, from a technical perspective, Bitcoin's weekly ascending triangle consolidation pattern is nearing completion, and the theoretical target after the breakout is in the $118,000-$120,000 range.
This breakout could trigger a significant short squeeze effect. Currently, a large number of open contracts in the futures market are concentrated around $110,000; once the price breaks the historical high, it is likely to trigger a chain reaction of short covering buy orders, further pushing up the price.
However, investors are also reminded to remain cautious and closely monitor two major potential risk factors:
One is the upcoming Federal Reserve's June interest rate decision, which may release policy signals; the second is the final voting results of the U.S. stablecoin bill, the "GENIUS Act," in Congress. If these macro factors change unfavorably, Bitcoin may first retest the support level at $102,750 to confirm the validity of the breakout.
Overall, Bitcoin completed a structural trend reversal at the end of April and is currently in a stage of building momentum, with the timing for an upward breakout increasingly approaching.
Do you think Bitcoin can break $118,000 before June? If it breaks the historical high, would you choose to chase the price or take profits?
#比特币牛市预测 #分析师观点 #链上数据洞察
Famous cryptocurrency analyst Willy Woo stated in a recent X tweet on May 21 that Bitcoin is at a critical juncture for breaking its historical high.
According to Woo's observations, once Bitcoin effectively breaks the previous high resistance level (around $109,000), it is very likely to usher in a rapid upward trend, targeting a price level directly at $118,000.
This judgment is primarily based on three key factors:
First, on-chain data shows that long-term holders continue to accumulate Bitcoin, leading to the exchange reserves dropping to their lowest level since 2018, significantly tightening market liquidity.
Second, institutional funds are accelerating their inflow into the market again, especially after a brief fluctuation, the net growth trend of spot ETF funds has re-emerged.
Finally, from a technical perspective, Bitcoin's weekly ascending triangle consolidation pattern is nearing completion, and the theoretical target after the breakout is in the $118,000-$120,000 range.
This breakout could trigger a significant short squeeze effect. Currently, a large number of open contracts in the futures market are concentrated around $110,000; once the price breaks the historical high, it is likely to trigger a chain reaction of short covering buy orders, further pushing up the price.
However, investors are also reminded to remain cautious and closely monitor two major potential risk factors:
One is the upcoming Federal Reserve's June interest rate decision, which may release policy signals; the second is the final voting results of the U.S. stablecoin bill, the "GENIUS Act," in Congress. If these macro factors change unfavorably, Bitcoin may first retest the support level at $102,750 to confirm the validity of the breakout.
Overall, Bitcoin completed a structural trend reversal at the end of April and is currently in a stage of building momentum, with the timing for an upward breakout increasingly approaching.
Do you think Bitcoin can break $118,000 before June? If it breaks the historical high, would you choose to chase the price or take profits?
#比特币牛市预测 #分析师观点 #链上数据洞察
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