Are Bitcoin's mid-term targets still valid?
In our last analysis, we mentioned that if there was any drop, it would likely be towards the resistance line that had been broken, and we identified the pullback zone around the 77K channel.
Now, based on the available data, the pullback has been successful, and Bitcoin's target is to move toward the 130-140K range.
A 3D pattern has formed, and the third drive could complete within this range, after which Bitcoin may enter a corrective phase.
But what about the second target 250K?
Why are we considering this target? There are several reasons:
First, the bullish wave in gold was preventing capital from flowing into cryptocurrencies, especially Bitcoin.
Now, gold is reaching the end of its bullish wave, which could lead to significant liquidity flowing into crypto and Bitcoin.
Second, Bitcoin's channel structure remains very bullish. If substantial liquidity enters the market, not only could the 250K target be achieved, but Bitcoin might even reach higher levels.
Trade at your own Risk š
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
