Bitcoin retests its annual high and heads towards its all-time high next week
After a week of volatility, Bitcoin has once again reached all-time highs. The price plummeted to $89,100, shaking market confidence, before recovering. Bitcoin rose 18% in six days to $105,900, reigniting market optimism.
In his technical analysis of X, prominent analyst Daan highlighted Bitcoin's new clean test of its previous annual high, which has now become a firm support. This new test on the 4-hour chart is a positive indicator, according to Daan, predicting that BTC will rise in the coming days.
This recent increase puts Bitcoin in the spotlight for investors as it enters unknown territory.
Bitcoin enters uncharted territory
By surpassing $100,000 for the first time, Bitcoin may enter price discovery. Investors are optimistic after this critical move and expect BTC to surpass its ATH in the coming days.
In his extensive technical analysis of X, Daan highlighted Bitcoin's strong market structure. Daan claims that BTC has retested its previous annual high, a significant resistance level that is now support. He stated that BTC's ATH is evident as long as it stays above $102.7K. Daan said: "Bitcoin looks good for a move towards the all-time high next week," emphasizing the importance of support.
As BTC approaches price discovery, its momentum above $100K will be monitored. Investors are eager to see how far Bitcoin can go, and many are anticipating a significant shift.
Fresh supply test of BTC: can it last?
Days of volatility and market uncertainty have left Bitcoin (BTC) around $104,600. BTC is approaching a new all-time high above $108,000 as bulls take control. This strong rebound has boosted investor confidence, and many expect BTC to increase explosively.
If Bitcoin continues to rise, a breakout above $108,000 could trigger a significant increase in the cryptocurrency market. BTC, the leading digital asset, often determines market sentiment, so its future movements are crucial.$BTC $ETH #TRUMPCoinMarketCap $BNB #TrumpCountDown #Colombia #peru #Chile
