#BTCReserveStrategy
STORY OF TODAY $BTC
Although $BTC has experienced a decline of 7.5% from its new all-time high of around $123,250, some analysts see it not as the end of a bullish market, but rather as the "last shake" before a significant price rise. This drop may provide an opportunity for prices to form a "perfect bottom."
On Sunday, the price of Bitcoin successfully retested and maintained the 50-day exponential moving average (EMA 50) as an important support level, after briefly dropping below it. Historically, this level often serves as a launch point for new price rallies. For example, a similar drop in June was followed by a price increase of 25%.
The current price movement also confirms the validity of the inverted head-and-shoulders (IH&S) technical pattern. This pattern is a classic indicator of a bullish reversal. After the price of Bitcoin broke through the "neckline" of the pattern, it pulled back to retest it, and is now bouncing off that level.
This successful retest indicates that Bitcoin may enter a continuation phase of its breakout. Based on the IH&S pattern, the next price target is aimed at moving towards $148,250. This target aligns with the expectations of many analysts who predict Bitcoin could reach around $150,000 by 2025, particularly around October.
Thus, the current price decline is seen as part of a healthy consolidation process, which could potentially lay the foundation for the next major rally that will bring the price of Bitcoin closer to the $150,000 mark. Give a Like if you like