A Bitcoin price pattern with a 78% accuracy emerges, pointing to new BTC highs
A Bitcoin price pattern with a high success rate has formed on the daily chart. Are new all-time highs for BTC on the way?
Market Analysis
Since 2021, 78% of bullish engulfing patterns for Bitcoin have led to new local highs, especially within broader bullish trends.
Bitcoin has absorbed more than $544 billion in capital since November 2022, pushing the realized market capitalization to $944 billion.
Bitcoin closed on Monday with a strong daily gain of 4.34%, forming a bullish engulfing candle that completely reversed the bearish price action of the previous two days.
This pattern, along with maintaining BTC support above the $105,000 level for two consecutive days, signals a possible shift in market structure and adds weight to the ongoing recovery.
