Bitcoin price prospects look promising following the recent notable upward momentum above the… $100,000 is a pivotal achievement. This drives broader bullish expectations for cryptocurrency assets to rise significantly in the coming weeks to unprecedented levels as the market gradually regains its uptrend.
The next big step for Bitcoin is underway
Due to Bitcoin’s renewed strength, analysts at Rose Premium Signals, a technical analysis platform, said anticipation That BTC could be in big trouble pool In the coming days, it will likely reach a new all-time high.
This platform forecast highlights BTC’s resilience during market downturns, strengthening its position as the leading digital asset in this sector. Amid the growing bullish momentum in the market, Rose Premium Signals points to key indicators and chart pattern as the main drivers of the expected rise to an unprecedented level.
After delving into the current price action Bitcoin On the daily time frame, Rose Premium Signals observed that the cryptocurrency assets are showing a consistent upward trend as they are trading within a well-defined ascending channel formation.
It is worth noting that an ascending channel formation, also known as an ascending channel, consists of two ascending lines above and below the price to indicate resistance and support levels. In other words, it is a bullish chart pattern characterized by higher highs and higher lows, providing a clear visual indication of bullish strength to traders.
As Bitcoin continued to move within a critical chart pattern, the platform confirmed several strong support points at the $92,500 and $94,000 price levels, which remained firmly held in the heat of the prices. Corrections.
Given the breakout from the bullish channel formation, Rose Premium Signals is confident that the next major target for BTC could reach $121,290 in the near term. Specifically, this expected rise maintains upward momentum consistent with the upper border of the ascending channel.
So far, with multiple positive developments such as High institutional interestAnd strong activity on the chain Low supply on cryptocurrency exchangesBullish growth for Bitcoin appears likely, paving the way for another historical milestone.
BTC on the verge of a new all-time high?
currently, Bitcoin It is showing healthy price performance, crossing several major resistance areas such as the $100,000 threshold once again. Given the renewed momentum and the recent chart breakout, Titan of Crypto, market analyst and trader, believes the digital asset may reach a new peak in the near term.
Titan of Crypto is bold Climate prediction It is reinforced by Bitcoin’s successful breakout of the descending wedge pattern and reaching the intermediate target of $95,000, which it had highlighted a few weeks ago. As a result, the market expert expects the cryptocurrency asset to rise to the 200% Fibonacci extension level set at the $111,000 price mark.
Featured image from Unsplash, chart from Tradingview.com