Bitcoin aims for new highs! 🚀
A bullish price pattern, known as "bullish engulfing candle," has emerged on the Bitcoin chart, showing a remarkable 78% accuracy since 2021 in predicting new local highs. This pattern formed after a strong daily gain of 4.34% in BTC, maintaining support above $105,000.
Out of 19 occurrences of this pattern on the daily BTC chart since 2021, 15 resulted in new peaks, especially during bullish trends. Moreover, Bitcoin's liquidity conditions are "undeniably bullish," with over $544 billion in new capital inflows since November 2022, pushing the realized market capitalization to a record $944 billion.
This suggests that Bitcoin could be gearing up for a significant rally, similar to what was seen at the end of 2022. Stay tuned to BTC.