My lovely people! Pay attention to this! 🤑 It turns out that Bitcoin is making waves again, and according to those in the know, it could be about to make a leap that will leave us speechless! 😮 A pattern called "bullish engulfing" has appeared on the daily chart, and here's the data: it has a 78% accuracy for the price to skyrocket! 📈
Imagine that since 2021, out of every 19 times this pattern appeared, 15 times the price went up and set new records! 🤩 This is no tale, it's pure math. Bitcoin closed last Monday with a brutal rise of 4.34%, as if it had been fueled with the good stuff! ⛽️ And the best part is that it remained strong above $105,000, showing it can hold its ground! 💪
But don't think everything is rosy. Although things look good, there are still a few out there who are doubtful, but that doesn't take away from the strength of this pattern. If we compare, when the market is heading north (i.e., bullish), this pattern is almost infallible. But be careful, if the market is trending down, like in 2022, the pattern loses its magic. So, we're in a good moment! 🥳
Moreover, things are getting more interesting because Bitcoin's liquidity is at levels not seen since late 2022. Remember when it hit bottom at $16,800 and then doubled in the blink of an eye? Well, it seems we're in a similar situation. It has absorbed over $544 billion in new capital! 🤯 Its internal liquidity is already at $944 billion. It's crazy! This means people are putting in money and things are heating up. 🔥
What does it take for BTC to skyrocket to $112K? Learn the market gossip! 🧐💰
Hold on tight, folks, because things are heating up with Bitcoin!🌶️ It seems that the surge to $112,000 from its April lows of around $74,000 is taking a breather. But beware! Experts say it still has plenty of energy left and that 2025 could be the year of the explosion. 💥
One of the important bits of gossip is the MVRV. Don't be scared by the name! It's like a thermometer that measures market momentum. Right now, it seems to be cooling off a bit, but don't worry! This doesn't mean everything is going to crash. Analysts say this could be a sign that we're entering the home stretch of the bullish cycle. It's like when the orchestra calms down a bit before the grand finale. 🎶 The thing is that the MVRV is still far from the "overvaluation" zone, which means there's still room for the price to keep rising. Phew, what a relief! 😮💨 If the MVRV gains momentum again and the money inflows to Bitcoin ETFs remain strong, we could see Bitcoin soaring above $112,000 and possibly reaching $165,000 or even more! Just imagine that juicy cash! 🤑
But wait, there's one more detail. The transaction volume of Bitcoin, both "onchain" (the ones visible on the blockchain) and normal operations, has dropped a bit! 📉 It's as if people are waiting, without much hurry. The onchain transfer volume decreased by about 32%, and the operational volume is much lower than during the peaks of this bullish cycle. Glassnode, which are experts in analyzing this, says that unlike other major increases, this time it hasn't been accompanied by a surge in volume. This means that perhaps there aren't as many people putting in money with the excitement of before. 🤔
For Bitcoin to get a real push and break through the barrier, experts say we need the volume to surge and people to start moving their cash with enthusiasm. "We need something more than mere expectation," said an analyst. With volume above $107,500, that's when the fuse gets lit! 💥
And here comes the biggest challenge: Bitcoin has to break the resistance between $108,000 and $110,000. It's like the last great wall. If it manages to break it and turn it into its new support, get ready for new all-time highs! 🚀 Some say it's logical for Bitcoin to pull back a little, like to gain momentum around $105,000-$104,000, and then go for it! 🚀 Michael van de Poppe, another analysis expert, says that $109,000 is the key level, and that "a breakout is about to begin". So stay sharp, my people! Things are getting exciting. 😉
