🚀 Bitcoin: Pause Before the Next Rocket Launch? 🚀
Bitcoin (BTC) recently broke its all-time high, but the price has remained steady since. Is this a pause before a major surge?
Key Takeaways:
Perfect Market Behavior: The short-term 4-hour chart shows a textbook breakout from a bull flag, followed by a retest and confirmation of the previous all-time high as new support.
Weekly Chart Looks Rosy: Zooming out to the weekly timeframe, all indicators point to continued bullish momentum. The ascending trendline from 2021 bull market tops has been respected, and key technical patterns like the "W" have played out perfectly.
Bullish Signals: The Stochastic RSI on both weekly and 2-week charts indicates strong upside momentum. The MACD also shows a bullish cross with growing green histogram bars.
Potential Target: Based on Fibonacci extension levels, a target of $131,000 could be on the horizon.
What's Next?
All signs suggest at least one more significant surge for Bitcoin, potentially extending into late 2025 or early 2026. While the exact peak is unknown, the technical setup is exceptionally bullish!
Is Bitcoin just catching its breath before its next big move? Share your thoughts below! 👇
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