Bitcoin breaks resistance after confirming a bullish inverse head and shoulders, setting the stage for another strong upward phase.
Bitcoin’s momentum builds with rising volume and sustained support levels, signaling market strength and an imminent altcoin rotation.
With investor confidence growing and technical patterns aligning, Bitcoin leads a market poised for further gains and potential altseason.
According to Javon Marks, Bitcoin is confirming a bullish continuation pattern with a robust upward price trajectory, defying negative expectations. When Bitcoin hit $74,000 earlier this year, many said the bull market was gone. But since then, the price has risen sharply, setting new records and sustaining its upward trend. With Bitcoin's dominance growing and sentiment increasing, technical data currently predicts an upcoming altcoin season.
An inverse head and shoulders pattern may be seen as shared by analyst Javon Marks. A bullish continuation trend is confirmed by this pattern, indicating more upside potential. Bitcoin first underwent a correction, creating the first level of support. Prices dropped, causing panic in all markets and shaking out weak hands. Bitcoin stabilized and started to consolidate inside a specific range despite the volatility.
Source: Javon Marks
Besides, during the consolidation phase, Bitcoin respected support levels while testing resistance zones multiple times. These tests confirmed buyer interest and growing strength. The volume data supported this phase, with occasional spikes highlighting accumulation. Consequently, this period set the foundation for a breakout.
Strong Breakout Followed by Rapid Acceleration
Bitcoin eventually broke through resistance, kicking off a major rally. This upward move marked the most aggressive phase in the charted timeframe. The cryptocurrency surged to new highs, creating a second key support level. This base became a springboard for further gains. Trading volume increased during this phase, confirming strong market conviction.
Moreover, the upward trend continued at a faster pace, with no retracement. Bitcoin maintained momentum, signaling sustained investor confidence. Additionally, traders observed textbook technical formations aligning with this bullish structure. These patterns strengthen the case for continued gains in the short to mid-term.
Gold Comparison and Future Projections
Interestingly, the chart also compares Bitcoin’s performance with gold. While gold rose steadily, it showed much less volatility. Bitcoin’s price movements, in contrast, were larger and more dramatic. However, both assets followed an upward trajectory, with Bitcoin showing stronger growth potential.
Hence, with an active continuation pattern in play and volume confirming each move, Bitcoin is positioned for another leg upward. Technical projections suggest higher price targets. Additionally, altcoins are expected to follow as capital rotates. Traders are now eyeing the next breakout zone, with altseason appearing increasingly likely.
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