Bitcoin Traders Anticipate a Continuous Bull Market
AI Summary
According to Odaily, despite the market's sideways movement, Bitcoin traders remain optimistic about the cryptocurrency's price trajectory. The prevailing sentiment within the community is not bearish, with many believing that the bull market is far from over. There is a consensus that Bitcoin is gearing up for a new phase of price discovery.
Trader Alan Tardígrado has noted that Bitcoin is following an expanded ascending wedge pattern. Historically, since 2023, this signal has led to price increases of 49%, 125%, and 68%. Another trader, Merlijn, highlights that Bitcoin is currently exhibiting a classic price bottom structure in the form of an inverted head and shoulders pattern, with a short-term price target that could reach $140,000.
