🔥🌟💥#Bitcoin Price Update: History May Repeat With Potential 50% Rally
$BTC is retesting an ascending support trendline, similar to the setup before its massive $70K to $108K rally in late 2024.
Swing Lows:
Recent lows around $112K suggest the bottom is likely in, with strong support near $109,300.
Trendline:
Unlike the prior descending trendline, the current one is ascending, signaling bullish momentum.
Volatility:
Market in low-volatility phase but expected to break out soon.
Upside Potential:
If history repeats, BTC could rally 50%, pushing above $170,000.
Current Price: ~$116,800
Trade Setup:
Entry Zone: Around current support at $112,000–$116,800
Targets:
Target 1: $130,000
Target 2: $150,000
Target 3: $170,000+
Stop Loss:
Below $109,000 (key support zone)
Suggestion:
Watch for confirmation of trendline support and increasing volume. Consider entering long positions with a tight stop under $109K.